NaijaknowhowNaijaknowhowNaijaknowhow
  • Home
  • Guides
  • Apps & Software
  • Tech News
  • Phones
    • iPhone
    • Infinix
    • Nokia
    • OPPO
    • Samsung
    • TECNO
    • Xiaomi
    • More Phones
      • HONOR
      • Huawei
      • Gionee
      • Innjoo
      • itel
      • LEAGOO
      • Lenovo
      • LG
      • Motorola
      • Sony
      • Vivo
      • Other Smartphones
  • More
    • Internet & data
      • Telcos
      • Internet & Data
      • Call Tariffs
    • Operating System
      • Android
      • Apple iOS
      • iPadOS
      • macOS
      • Windows
    • Banking & Finance
    • Buying Guide
    • Computers
    • Gaming
    • Video Tutorial
    • Gadgets
    • Accessories
    • Online Business
    • Wearables
    • Featured
  • Advertise
  • Contact Us
  • My Bookmarks
Search
  • Customize Interests
  • About Us
  • Contact
  • Advertise
© NAIJAKNOWHOW MEDIA
Notification Show More
Font ResizerAa
NaijaknowhowNaijaknowhow
Font ResizerAa
Search
  • Home
  • Guides
  • Apps & Software
  • Tech News
  • Phones
    • iPhone
    • Infinix
    • Nokia
    • OPPO
    • Samsung
    • TECNO
    • Xiaomi
    • More Phones
  • More
    • Internet & data
    • Operating System
    • Banking & Finance
    • Buying Guide
    • Computers
    • Gaming
    • Video Tutorial
    • Gadgets
    • Accessories
    • Online Business
    • Wearables
    • Featured
  • Advertise
  • Contact Us
  • My Bookmarks
Follow US
  • About Us
  • Advertise
  • Banner Ads
  • Contact Us
  • Privacy Policy
  • Disclaimer
© NAIJAKNOWHOW MEDIA
Banking & FinanceTech News

3 Facebook Cryptocurrency Supports Backing Down?

By
Viklin
Last updated: May 30, 2022
Share
2 Min Read
SHARE

Three institutions that initially supported the cryptocurrency made by Facebook, Libra, reportedly now keep their distance from the project.

The Financial Times report said the three institutions had moved away because of criticism from regulators on digital currencies heats up.

Facebook reportedly began to feel upset because the founders of Libra did not support the cryptocurrency. Some other partners worry that if they openly support Libra, their business will be disrupted.

In June, Facebook along with 27 partners announced it would make Libra cryptocurrency. Since then they have been criticized by legislators who fear that the cryptocurrency will be abused by criminals and will disrupt the US dollar exchange rate.

The European Union is also said to be worried about Libra. They even investigated the possibility that the cryptocurrency would damage the exchange rate.

The plan, Facebook will launch Libra in the second half of 2020. They have created the Libra Association to regulate cryptocurrencies.

Facebook promises Libra will come out after they overcome the existing concerns.

The association for Libra is filled by 28 institutions, including Visa, PayPal, Uber, Spotify, Coinbase, Andressen Horowitz, and Mercy Corps. They target the association members to increase to 100 institutions in 2020.

Libra promises a different system so that their value does not fluctuate dramatically like Bitcoin and Ethereum. Libra value will be based on a number of assets.

So far, Facebook and the Libra Association have not responded to the latest report.

NKH Giveaway | Enter To Win The Vkworld Mix Plus 4G Bezel-less Phablet
All Bank Transfer Codes – How to Transfer Money via Mobile Phone in Nigeria
Telegram Records Over 500 Million Downloads In Play Store
How to Transfer Money From Unity Bank to Other Banks on Mobile
Samsung Unveils Galaxy S25 Series in Nigeria: Prices Start at ₦1.4 Million on Jumia
TAGGED:CryptocurrencyFacebookLibra
Share This Article
Facebook Whatsapp Whatsapp
Share
franklin victor
ByViklin
Follow:
Passionate about technology and gadgets, I'm also an experienced architect and content & SEO specialist. When I'm not diving into the latest innovations, you’ll find me cheering for Inter Milan.
Previous Article Samsung Galaxy M40 Check Out The Samsung Galaxy M40 With Triple Rear Cameras and Gorilla Glass
Next Article Honor Gamepad for Smartphones Honor Presents Gamepad for Smartphones
Leave a Comment Leave a Comment

Hey fam, don't go without a reply!Cancel reply

Ad imageAd image
- Advertisement -

Latest News

cloud storage
7 Free and Best Cloud Storage Apps for Android, iOS, and PC
Internet & Data
July 8, 2025
Mobile Scanner Apps
No Printer? No Problem! 10 Best Scanner Apps for Quick Docs
Apps & Software
July 7, 2025
PPSSPP - play PSP games on Android
How to Play PSP Games on Android Using PPSSPP Emulator
Gaming
July 4, 2025
how to call number that blocked you
How to Call a Number That Blocked You in Nigeria
Tech Tutor
July 4, 2025

Stay Connected

5.9kFollowersLike
2.2kFollowersFollow
1.6kFollowersPin
1.2kFollowersFollow
1.9kSubscribersSubscribe
500FollowersFollow
637MembersFollow
NaijaknowhowNaijaknowhow
Follow US
© NAIJAKNOWHOW MEDIA (BN 2738473) | 2015 - 2025 All Rights Reserved.
  • About Us
  • Advertise
  • Banner Ads
  • Contact Us
  • Privacy Policy
  • Disclaimer
X
GET EXCLUSIVE CONTENT
SUBSCRIBE TO OUR CHANNEL