Things Are Not Gong Well for Facebook’s Cryptocurrency

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Facebook cryptocurrency has lost a number of big-name backers in recent times. Reuters reported on the problems facing Libra, and looked at where the project might go next.

PayPal (PYPL.O) started the Libra Association exodus this month, leaving Facebook without the backing of any major payments firms for the project, due for launch by June 2020. Libra said this month it would give details after the meeting of the 1,500 “entities” that have indicated “enthusiastic interest” to take part in the project. Members will review a charter and appoint a board at the Libra meeting, which will be held in Geneva, the Wall Street Journal reported this month. A spokeswoman did not immediately respond to enquiries on the meeting of the Libra Association, whose remaining members include Vodafone (VOD.L) and ride-hailing firms Uber and Lyft.

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Things Are Not Gong Well for Facebook’s Cryptocurrency
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