David Marcus who co-founded the Libra/Diem stablecoin project when at Meta (Facebook), recently published a post on X describing “How Libra was killed”. He wrote about the political moves to shut it down after venture capitalist Marc Andreessen discussed the de-banking of cryptocurrency firms on the Joe Rogan show last week.
When Libra was unveiled in June 2019, it was a very big deal, mainly because of Facebook’s involvement, but also since many of the 27 other brands were household names including Visa, Mastercard, PayPal and Stripe. Central banks around the world seemed to enter a state of collective panic.
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