Why Facebook’s Libra Cryptocurrency Is In Trouble

laatste update: 05-2022

When Facebook first announced it was getting into the crypto business—with a basically unregulated currency called Libra—the reaction from Wall Street and government bankers was about as expected. Fast-foward a few months, and Libra is in trouble. The social media giant had lined up a long list of corporate backers for the initiative, including major players in the payments space. And in October 2019, several prominent backers began to back out. Here’s how Facebook’s crypto future got into serious trouble.

» Subscribe to CNBC:
» Subscribe to CNBC TV:
» Subscribe to CNBC Classic:

About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

Connect with CNBC News Online
Get the latest news:
Follow CNBC on LinkedIn:
Follow CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Instagram:


Why Facebook’s Libra Cryptocurrency Is In Trouble

30 gedachten over “Why Facebook’s Libra Cryptocurrency Is In Trouble”

  1. He should have kept quiet about it to avoid resistance and went on to develop the project in the background dissociating it from Facebook but he was too noisy about it.

  2. We do not want banks! The end of central bank! We are taking the power back. We dont want Zuckerberg and his pathetic attempt to power grab! Facebook has lost a lot of credibility as of late with their censorship garbage. They cannot be trusted.

  3. Now Zuckerberg is buying up a ton of farmland in India. A cyberbully with limited real world experience, and who looks like he can't even lift a pitch fork, controlling a nations food supply, what could possibly go wrong?

  4. As is this was China, they would allowed it and after the project is completed with many users around the world, they would seize the company and can influence global financial like never before

  5. Its like directly using your Mutual fund amount for purchasing goods without withdrawing and waiting time, It will be similar to bank, only that libra will provide high/low interest every second. One have to use the central bank currencies to deposit, there is no competition in it.

  6. If libra comes, i would probably used in here in IRAQ, because we are also humans and would like to buy services such as spotify or netflex or ebooks from the internet.

  7. Claro está más que comprobado por mi que feisbuk no sirve así de sencillo por conspiran contra la libre esprecion derecho ineyenable del ser humano a expresar o desir en el mejor sentido de las palabras aser libre y feisbuk sensura y le da muerte al consumidor en estos términos que aplica al consumidor y quien no sirve para servir teniendo un negocio dentro de usa para servir al consumidor que es quien tiene siempre la razón no sirve ni para existir así de sencillo se csgaron en los pantalones con el consumidor recojan sus maletas y acepten que ya muchos de los conocemos no queremos ni saber del color del sepillo con que se lavan los dientes descardos eso es lo son.

  8. I hope they shut f**** Facebook down it's controlling what people say the narrative that this company is using is for their own benefit people are scamming each other posting videos and you're not allowed to have a opinion on the matter and you want to be blocked for 7 days f*** Facebook don't need it hope they shut it f**** down

  9. A financial system free from many of the burdens and pitfalls created by trusted intermediaries and powerful masters sounds like a beautiful future we should all want to usher in.

  10. I have finished watching this video completely.


    I am a Taiwanese who cares about the global affairs.


    And, sadly, most of my fellow Taiwanese don't really care about the world.


    Hopefully Taiwan can become increasingly globally-aware and globally-competitive.


    God bless Taiwan.


  11. Companies are always rushing to help you spend your money faster. For years, they have been helping you spend your money before you have it.

  12. This man has much to answer for
    Aimed at the low valued, to continue to promote low value.
    Look what promoting low value has done to our world: terrorist backed fighters, Faithlessness while championing atheism, welfare states, etc…..

  13. But if we think about it the banks and NBFCs are not wrong. many times government has to regulate the economy of a country through monetary polities and decentralised currencies would be difficult to control, there would be other disadvantages too of course many of them are to the banks and NBFIs or NBFCs but on the scale of regulating the economy it would be very difficult and who know a situation like the late 2008 financial crisis would come but government wont be able to do anything. my last point would be why a new digital currency we have wallets in which our old currencies is acting like a digital curreny why risk having a dicentralized currency which could go wrong in many ways. What I think is the idea of libra is good if mark wants to apply it inside the Metaverse, so buying or selling something in metaversre would require only libra. And i could see libra become an offical metaverse currency rather than bitcoin or etherium because it would be so much stable and people would trust it and In my opinion, bitcoin, etherium, etc would never be accepted as a real currency and will only be used for investment or trading purposes.

  14. We ALL should fight against ANY mass digital currency banking by government backing because if they figure you're not following "rules" they lock your money. Say U didn't get vaxed or anything. Scary

Reacties zijn gesloten.