Ripple CEO: Facebook’s Libra Will Not Launch Before 2023
Garlinghouse bets on a 3-year Libra delay
Speaking in an interview with Fortune on Oct. 7, Brad Garlinghouse argued that regulatory pushback would continue to plague the project that was only announced in June, noting:
“I would bet that Libra… let’s say, by the end of 2022, I think Libra will not have launched.”
Garlinghouse also noted various problems governments have raised with Facebook around the world over its digital currency plans.
Facebook left with fewer allies
“I think maybe it would have been better received if Facebook had not been the point of the arrow,” Garlinghouse continued. He added that regulators likely saw Libra as a Facebook project.
The comments come after a particularly tough week for Facebook’s Libra Association, the nonprofit behind the project. On Friday, PayPal, one of its major backers, pulled out of participation altogether, citing worries that its own reputation would suffer.
“We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future,” a representative of the firm told Cointelegraph.
Tue, 10/08/2019 – 22:05
Zero Hedge’s mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information’s unending quest for freedom. Visit https://www.zerohedge.com
This post has been republished with implied permission from a publicly-available RSS feed found on Zero Hedge. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.