Why Facebook’s Libra Cryptocurrency Is In Trouble

When Facebook first announced that it would enter the crypto business – with a largely unregulated currency called Libra – Wall Street and the reaction of government bankers was almost expected. Run away quickly for several months and Libra got into trouble. The social media giant has compiled a long list of supporters of this initiative, including major players in payments. And in October 2019, several prominent supporters began to resign. Thus, Facebook’s cryptocurrency in the future encountered serious problems.

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