The US House Financial Services Committee has scheduled a hearing to examine Facebook’s stablecoin project Libra.
Maxine Waters, the chairwoman of the House Financial Services Committee, announced on Monday that the panel will hold a hearing on July 17 on Facebook’s plan to develop a crypto stablecoin.
Social media giant Facebook has reportedly made its first blockchain-related acquisition by acquiring Chainspace, a small blockchain startup founded by researchers from University College London.
Citing unnamed sources, news outlet Cheddar reported that the social media giant acquired Chainspace in an acquihire,
Social media giant Facebook is reportedly developing a cryptocurrency that will let users transfer money on its encrypted mobile-messaging app WhatsApp.
Citing people familiar with the matter, Bloomberg reported that the social media giant is working on creating a stablecoin for WhatsApp, which has 200 million users in India.
David Marcus, executive in charge of blockchain research at Facebook, is stepping down from the board of directors at crypto exchange Coinbase in order to avoid a conflict of interest.
Marcus, who has worked at Facebook since August 2014, joined Coinbase’s board in December 2017.
Social media giant Facebook is launching a blockchain team to explore possible applications for the technology.
David Marcus, the head of Facebook’s messaging app Messenger, will spearhead the initiative. Marcus, a former president of PayPal, will be joined by Kevin Weil, head of product at Instagram,
Cryptocurrency exchange Coinbase has added David Marcus, head of Facebook’s Messenger service, to its board of directors.
Marcus started his career at 23 when he founded his first venture, GTN Telecom, and served as the chairman and CEO until GTN was acquired by World Access in 2000.
