Libra claims 180 potential replacements for 7 mutineers

Attempting to signal its popularity despite high-profile defections from Visa, Stripe and more, the Facebook-led cryptocurrency Libra Association announced that 1,500 organizations have expressed interest in joining the Libra project — 180 of those meet eligibility requirements to become members, which could replace the seven companies that dropped out of the Association this month, including […]

Facebook has acquired Servicefriend, which builds ‘hybrid’ chatbots, for Calibra customer service

As Facebook prepares to launch its new cryptocurrency Libra in 2020, it’s putting the pieces in place to help it run. In one of the latest developments, it has acquired Servicefriend, a startup that built bots — chat clients for messaging apps based on artificial intelligence — to help customer service teams, TechCrunch has confirmed. […]

Congressional testimony reveals some faults in Facebook’s digital currency plans

As Facebook continues to lay the foundation for getting some of the world’s largest payment processing and technology companies a seat at the global monetary policy table, the company faces significant obstacles to enacting its plans from both sides of the Congressional aisle. In the second of what’s sure to be many (many many many) […]

Facebook’s testimony to Congress: Libra will be regulated by Swiss

The head of Facebook’s blockchain subsidiary Calibra David Marcus has released his prepared testimony before Congress for tomorrow and Wednesday, explaining that the Libra Association will be regulated by the Swiss government because that’s where it’s headquartered. Meanwhile, he says the Libra Association and Facebook’s Calibra wallet intend to comply will all U.S. tax, anti-money […]

Facebook answers how Libra taxes & anti-fraud will work

Facebook provided TechCrunch with new information on how its cryptocurrency will stay legal amidst allegations from President Trump that Libra could facilitate “unlawful behavior.” Facebook and Libra Association executives tell me they expect Libra will incur sales tax and capital gains taxes. They confirmed that Facebook is also in talks with local convenience stores and […]

What is the Libra Association going to do, really?

When Facebook unveiled Libra a few days ago, the company also announced the Libra Association, a not-for-profit that will oversee all things Libra. Facebook wants to make sure that everyone is aware that Libra was created by Facebook but isn’t controlled by Facebook. And yet, given Facebook’s reputation, it seems useful to evaluate the project […]