According to Reuters reports EBay & Stripe had abandoned the Libra project as things get from bad to worse for Mark Zuckerberg. CNBC also confirmed Visa and MasterCard have also left the project.
“We highly respect the vision of the Libra Association; however, eBay has made the decision to not move forward as a founding member,” EBay said in a statement.
Obviously not enough.
The news is getting worse but soon the co-founder Mark Zuckerberg is set to stand before the senate and answer question over the groundbreaking project.
Maxine Waters who is was the chair of the last meeting with David Marcus taunted the co-founder by saying that Zuckerberg needed to be there himself.
Other Senate member were also on the offensive calling Libra "Zuck Bucks" and saying he wanted control of money.
Now the project is falling at the seems we will wait to hear from Facebook themselves to see if the news is taken badly. They did not seem too bothered when PayPal left but now these are some core members who have left.
Visa commented saying:
“will continue to evaluate and our ultimate decision will be determined by a number of factors, including the Association’s ability to fully satisfy all requisite regulatory expectations. Visa’s continued interest in Libra stems from our belief that well-regulated blockchain-based networks could extend the value of secure digital payments to a greater number of people and places, particularly in emerging and developing markets.”
The Libra association now meet on Monday 14th with now only 26 members in the group. The talks will now be very interesting indeed.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.