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Facebook’s plan to revolutionize how money works, and why companies and lawmakers are so worried about it, explained in 30 seconds

Libra will be managed by the independent, nonprofit Libra Association and transferred on digital wallet Calibra, a subsidiary of Facebook.
Facebook CEO Mark Zuckerberg.

Facebook CEO Mark Zuckerberg is trying to drum up support for the firm’s wild new currency by amping up worries of China’s financial domin...

Facebook CEO Mark Zuckerberg has discussed the Libra cryptocurrency project at length in prepared remarks to the House Financial Services Committee.
It's a concept he picked up from Steve Jobs.

Salesforce billionaire Marc Benioff says Facebook should be broken up: ‘They’re after your kids’

In an interview with CNN on Wednesday, Marc Benioff launched a stinging critique of Facebook and called for it to be "broken up."
PayPal was the first major firm to leave the Libra Association (pictured is its president and CEO Dan Schulman).

Facebook’s blockchain boss David Marcus defends the feasibility of Libra after a quarter of its partners drop out

David Marcus says Libra is 'absolutely not' in jeopardy after a swathe of major firms abandoned the Libra Association in the past fortnight.
Representations of virtual currency and Libra logo illustration picture

Facebook’s cryptocurrency isn’t available yet, but scammers are already trying to trick people into buying fake versions of Libra

Facebook is trying to convince lawmakers it can keep its cryptocurrency secure but scammers are already trying to trick people into buying fake coins.
The moment Rep. Brad Sherman compared Facebook's proposed Libra cryptocurrency to the two planes crashing into the World Trade Center on 9/11.

A US congressman is standing by his statement that Facebook’s Libra cryptocurrency will be worse than 9/11

Rep. Brad Sherman compared Facebook's proposed Libra cryptocurrency to 9/11, predicting it would result in more US deaths over time.
Rep. Bill Huizenga.

A Michigan congressperson said Facebook’s Libra cryptocurrency reminded him of a ‘platypus’ but then decided it was more like a trav...

"What exactly is this? Is it fish or fowl?" Rep. Huizenga asked about the Facebook executive. "It seems it's more of a platypus, to me."
David Marcus, CEO of Facebook’s Calibra, testifies to the House Financial Services Committee hearing on "Examining Facebook's Proposed Cryptocurrency and Its Impact on Consumers, Investors, and the American Financial System" on Capitol Hill in Washington, U.S., July 17, 2019.

US Congressman Brad Sherman says Facebook’s Libra cryptocurrency ‘may do more to endanger America’ than 9/11

Facebook's plans to create a new digital currency are facing heavy criticism — but this is a whole new level.
Senator Mike Crapo and Senator Sherrod Brown listen to David Marcus, Facebook's head of Calibra, testify.

Facebook said its Libra cryptocurrency will be regulated by Swiss authorities — but that was news to those Swiss authorities

"Until today we have not been contacted by the promoters of Libra," said the Swiss Federal Data Protection and Information Commissioner.
David Marcus, head of Facebook's Calibra (digital wallet service), testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on "Examining Facebook's Proposed Digital Currency and Data Privacy Considerations" on Capitol Hill in Washington, U.S., July 16, 2019.

Facebook’s cryptocurrency plans hit a bipartisan wall of suspicion from US lawmakers: Why should anyone trust Facebook?

Facebook has suffered through two years of scandals, and it doesn't have many friends left in Congress.