Cryptocurrency News facebook Libra Margrethe Vestager Stablecoins 

EU Antitrust Boss Flags Facebook Crypto Libra for Monopoly Risks – CCN Markets

The European Union’s AntiTrust Chief is scrutinizing Facebook’s much-publicized crypto, Libra. | Source: Shutterstock EU regulators are investigating if the Facebook Libra “cryptocurrency” poses a threat to competition by being a potential monopoly. Margrethe Vestager is the outgoing antitrust chief of the European Union. She’s gravely concerned that Libra could violate antitrust laws. EU: Facebook Libra must not stifle competition To address this, Vestager says European regulators are examining the potential anti-competitive threats posed by Libra. “We can even look at new services even before they’re introduced,” Vestager said at…

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amazon Cryptocurrency News facebook Libra 

Amazon’s Secretive Crypto is Facebook Libra’s Biggest Threat: Report – CCN Markets

Facebook’s much-publicized and criticized crypto ‘Libra’ will see competition by one of the world’s biggest tech companies, Amazon, a report has claimed. | Source: Shutterstock; edited by CCN. Since Facebook announced the Libra cryptocurrency, a couple of other similar projects have been unveiled with all of them being dubbed potential ‘Libra-killers’. They include Venus, an initiative by Binance to ‘develop localized stablecoins and digital assets pegged to fiat currencies across the globe’, and Metal Pay. But according to analysts surveyed by financial analytics company Cindicator, the biggest threat to Libra…

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Cryptocurrency News european central bank facebook Libra 

ECB Exec Rips ‘Cartel-Like’ Facebook Libra in Blistering Takedown – CCN Markets

Yves Mersch, a member of the European Central Bank’s executive board, warned of the dangers of the “cartel-like, “treacherous” Facebook Libra crypto. | Source: AFP PHOTO / DANIEL ROLAND A member of the European Central Bank’s executive board sounded the alarm on the “treacherous, cartel-like” Facebook Libra cryptocurrency. Yves Mersch issued a damning warning to not be fooled by Facebook‘s hollow promises of a decentralized ecosystem. Despite its noisy protestations, Mersh warns that the Facebook Libra network will be highly centralized. That’s the opposite of what cryptocurrencies like bitcoin brag…

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Altcoin News china Cryptocurrency News facebook Libra 

China’s Govt Crypto Readies Huge November Launch to Steal Libra’s Thunder – CCN Markets

China is reportedly set to launch its state crypto on the country’s biggest shopping day. | Source: Shutterstock Facebook’s fears that the bottlenecks tech firms in the free world face in developing cryptocurrencies risks opening the door for more closed societies to take the lead have been confirmed. According to Forbes, China has already developed a state-backed cryptocurrency known as DC/EP (DC- Digital Currency, EP – Electronic Payments) that could be unveiled in November. Forbes further reports that the responsibility of distributing the cryptocurrency will fall on some of China’s…

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facebook Libra Mark Zuckerberg Op-ed U.S. Business News 

Facebook Contractor Spies on Horrified Moderators. When Does It End?

A Facebook partner is spying on its own traumtized content moderators, giving us even more reasons to distrust Mark Zuckerberg’s company. | Source: AFP PHOTO / Brendan Smialowski Facebook released a video last year apologizing for its data misuse that likely swayed the 2016 election. It ends by saying “if this place does what it was built for, we all get a little closer.” That is the problem, Facebook. It’s time to back off. The Intercept just released an exposé detailing how managers at the Austin, Texas outpost have been…

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Brad Garlinghouse Cryptocurrency News facebook Libra 

‘Arrogant’ Facebook Sabotaged Itself With Libra Approach, Claims Ripple Chief

Ripple CEO Brad Garlinghouse has stated that the high level of scrutiny that Facebook has invited from regulators and policymakers with regards to the Libra cryptocurrency efforts is of the social media giant’s own making. Speaking on Bloomberg TV, Garlinghouse suggested that Facebook may have gone too far by stating in its white paper that it was going to create a ‘new currency’: I think there is a little bit, maybe, more than just ambitious, maybe arrogant to take the approach of ‘hey, we are going to build a, the…

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Circle Cryptocurrency News jeremy allaire Libra Stablecoins 

Jeremy Allaire’s Circle the Latest to Distance Itself from Facebook’s Libra

Jeremy Allaire’s Circle issued a U.S. dollar-backed stablecoin before stablecoins were cool. Now that Facebook has joined the fray with its Libra coin, which is designed to be backed by a basket of fiat currencies (and maybe other financial instruments), the spotlight on stablecoins has grown brighter. But Allaire, who is testifying in front of the U.S. Senate on July 30, wants lawmakers to understand the stark differences between USD Coin and Libra. Allaire isn’t alone, as Ripple CEO Brad Garlinghouse recently urged Congress not to “paint all digital currencies…

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Cryptocurrency News Donald Trump facebook Libra U.S. Business News 

Trump’s Libra Slam May Have Kneecapped Facebook Stock

In the age of Trump, all it takes is a single tweet to move the stock market. And the president may have done just that when he launched a tripartite attack on Facebook’s Libra cryptocurrency. Facebook Stock Can’t Shake the Trump Dump Facebook stock has remained trapped in a holding pattern since Trump gave Mark Zuckerberg’s crypto plans a big thumbs down, even as the Nasdaq and S&P 500 have continued to press toward new all-time highs. FB shares dipped to $199.31 in after-hours trading on Friday, placing them roughly…

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bitcoin Bitcoin Analysis Cryptocurrency News Libra Mike Novogratz 

Bitcoin Could Reclaim Its Peak, Hit $20,000 by Year-End: Novogratz

Some in the crypto community were left wondering if Michael Novogratz was still bullish on bitcoin after he recently took some bitcoin profits and kicked himself for not taking more. Being the astute trader that he is, Novogratz was just looking to buy back in at lower levels, an opportunity that doesn’t come around every day. Turns out the Galaxy Digital CEO knew exactly what he was doing, and now he’s feeling bullish once again. After accurately predicting a period of consolidation for BTC and a range of roughly $10,000…

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Cryptocurrency News david marcus facebook Libra switzerland 

Crypto-friendly Switzerland Outclasses U.S. as Facebook Libra’s Regulator

Switzerland crypto laws have appealed to blockchain enthusiasts for years. Facebook’s head of blockchain, David Marcus, is no exception. He released a statement announcing that he expects the new coin to be governed by Swiss law. “Because the (Libra) Association is headquartered in Geneva, it will be supervised by the Swiss Financial Markets Supervisory Authority (FINMA). We have had preliminary discussions with FINMA and expect to engage with them on an appropriate regulatory framework for the Libra Association.” Marcus went on to state that the association intends to register with…

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