Andreas Townsend

4 weeks ago

It's been recently reported that Facebook is under intense pressure these days.

PayPal dropped support for Facebook’s project Libra.

PayPal seems to have grown concerned about the backlash against the digital asset Libra but it’s also worth noting that the company did not cite any specific reason for the fact that it dropped support for this project.

More than that, eBay, Stripe, Visa, and Mastercard have all done the very same thing.

Anthony Pompliano addresses the fallout at Facebook

During a new episode of CNBC’s Squawk Box, Anthony Pompliano discusses the fallout at Facebook over the controversial project called Libra.

The former partners which have been mentioned above have withdrawn from the Libra Association amid relentless scrutiny from US lawmakers.

Anthony Pompliano who was also a former product manager at Facebook suggested that the social media giant could be trying a different tactic – to leverage the massive user base of the company, not for Libra – but in order to provide a strong distribution network for the already exciting digital assets.

Facebook should reportedly drop the Libra project and focus on Calibra wallet

He believes that Facebook should leave behind the bold plans of creating its very own crypto.

Regulators don’t want it, and so far, their strategy of issuing threatening letters to eliminate  Facebook’s corporate partners seems to have worked.

Pompliano stated the following:

“Here’s an idea. If Facebook were to say, ‘Look, we have two products. There’s Libra the association that’s a bunch of corporations, and we have Calibra’ – which is the digital wallet they’re building.”

He continued and said that Facebook should say this: “we’re going to basically sidestep creating a currency and we’re going to launch this digital wallet, and we’re going to embrace Bitcoin and the cryptocurrencies that already exist, I think that that might change the narrative a little bit.”

You can check out more on what Pomp had to say by heading over to the Daily Hodl's article, which cited him. We also recommend that you watch the video above.

Icon
1xBit

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
Nitrogen Sports

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
7bitcasino

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
BitStarz

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
FortuneJack

Lorem Ipsum is simply dummy text of the printing and typesetting industry....

Top Exchanges
Icon
CEX.IO

4.00

Read Review - Website

Icon
Coinbase

4.48

Read Review - Website

Icon
Binance

4.50

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Trending news

Binance

Trending news

Top Exchanges
Icon
CEX.IO

4.00

Read Review - Website

Icon
Coinbase

4.48

Read Review - Website

Icon
Binance

4.50

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Top Sportsbook
Icon
1xBit

4.03

Read Review - Website

Icon
Nitrogen Sports

4.73

Read Review - Website

Icon
SportBet.io

4.60

Read Review - Website

Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

1222 Articles
7255 Followers