Libra, the digital currency Facebook set out to launch through the Libra Association last June, is taking a new direction, according to a new blog post released today, “Libra Developers: The Path Forward”. Notably, the new path no longer involves just a single, multi-currency coin backed by a basket of assets, but will begin with […]
This week’s podcast begins with Galen Stops, editor of Profit & Loss, giving his perspective on the attempts by US politicians to grill a Facebook representative regarding the planned launch of its new cryptocurrency, libra. Stops highlights the good, the bad and the ugly from the Senate and House hearings, but when Colin Lambert, managing […]
So today it was the turn of the US House Committee on Financial Services putting Facebook’s proposed cryptocurrency, libra, under the microscope, and it was a vast improvement on yesterday’s hearing in the Senate. If you haven’t read the key takeaways from that hearing, you can find them here. Full disclosure: I had to run […]
The US Senate Committee on Banking, Housing and Urban Affairs today held a hearing examining Facebook’s proposed cryptocurrency, libra, and I almost filled up a whole notebook taking notes, which I’ll try and distill into something coherent now. It was fairly compelling, although frequently frustrating and sometimes amusing, stuff. Firstly, it’s worth noting that the […]
Colin Lambert is on the defensive from the start of this week’s podcast thanks to another disastrous prediction in the previous edition of In the FICC of It, so listen in to enjoy his discomfort as he and Galen Stops discuss the return of volatility to bitcoin and while doing so decide for yourself – […]
In this week’s lively and extended podcast Colin Lambert and Galen Stops mange to disagree on just about everything as they dig into the details around the announcement that Citi has given notice to four of the biggest non-bank market makers in FX and discuss the potential implications for the industry as a whole. They […]
“We are like dwarfs sitting on the shoulders of giants. We see more, and things that are more distant, than they did, not because our sight is superior or because we are taller than they, but because they raise us up, and by their great stature add to ours” The above quote is widely attributed […]
Facebook has issued a series of whitepapers outlining its plans regarding the new cryptocurrency that it intends to launch in the first half of 2020. According to the materials released today, the underlying aim of the proposed cryptocurrency, called Libra, is to make moving money around globally as easy, cost effective and safe as sending […]
The price of bitcoin keeps tumbling, dipping below $8,000 for the first time since November, following a wave of negative press stories regarding cryptocurrencies.
At the time of writing, 10.45am EST on February 5, the price of bitcoin was $7,410, according to Coindesk, down from $10,166 at the end of January and down from $13,412 at the start of 2018.
On January 30, Facebook announced in a blog post by Rob Leathern, its product management director, that it has banned advertising for cryptocurrency products on the social media platform.
“We’ve created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency,” says Leathern in the blog.