Breaking: Visa, Mastercard, eBay, Stripe All Leave Libra
Wow. Within the span of an hour or two, reports have revealed that Facebook’s crypto project, Libra, suffered some heavy blows.
It first started on Friday morning, with the Financial Times revealing that both eBay, the e-commerce/online marketplace giant, and Stripe, a fintech giant, have dropped out of the Libra Association.
Speaking to the outlet, an eBay spokesperson asserted that while the company “respects the vision of Libra”, the American firm will not be moving ahead with its participation in the Association, citing a focus on ” rolling out eBay’s managed payments experience for our customers.”
Related Reading: Bitcoin Price: Reclaiming Important Moving Average Could Lead to Retest of Highs
Stripe made a similar comment, telling the FT that it is “supportive of projects that aim to make online commerce more accessible for people”, but will not be moving forward with the Facebook-backed crypto project at this time.
Within the hour or two after the FT’s revelatory report, both Mastercard and Visa — seen by many in the crypto community to be the Association’s two most important partners — also revealed that they will be rescending their membership. In their own comment, Visa cited Libra’s inability to “fully satisfy all requisite regulatory expectations.”
Crucial Indicator: Bitcoin’s Parabolic Bull Run to $50,000+ Will Begin Very Shortly
Friday February 21, 2020
Since Bitcoin traders got a taste of parabolic price action in early-2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more and more and more....
The post Crucial Indicator: Bitcoin’s Parabolic Bull Run to $50,000+ Will Begin Very Shortly appeared first on 12bitplay - Bitcoin Play.
FIVE household names have pulled out of $LIBRA (Visa, Paypal, Stripe, Ebay, and Mastercard). I doubt they'll be the last.
Regulators are stonewalling it.
Zuck is testifying before Congress Oct. 23rd.
Now you can long/short its chance of even launching. https://t.co/LkIc1Kiswy
— The Crypto Dog (@TheCryptoDog) October 11, 2019
Bitcoin May Crash With the Stock Market as Economic Crisis Looms: Analyst
Tuesday February 25, 2020
Bitcoin is not a hedge against traditional finance, according to Mati Greenspan, analyst and founder of Quantum Economics. On Monday, Greenspan tweeted a chart showing Bitcoin, crude oil, and US stocks bouncing in unison...
The post Bitcoin May Crash With the Stock Market as Economic Crisis Looms: Analyst appeared first on 12bitplay - Bitcoin Play.
For now, the deluge of Libra leavers has stopped. It remains to be seen if this is the end of the Libra Association’s internal turmoil, as reports indicate that the ratification of the consortium’s charter is rapidly approaching.
This is a developing story. NewsBTC will update it once we get more information.
Featured Image from Shutterstock
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Warren Buffett Admits He Doesn’t Hold Bitcoin, Tron or Any Crypto
Monday February 24, 2020
Even a $4.5 million charity lunch was not enough to turn benchmark investor Warren Buffett into a crypto enthusiast. The chairman and CEO of Berkshire Hathaway, who in 2018 compared the top cryptocurrency bitcoin...
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