Checkmate: Libra Crumbles Against The Senate, Hearing Proceeds Tomorrow.

6m
coingape

Jerry Brito: The Case for Electronic Cash in an Open and Free Society

8m
letstalkbitcoin

IMF: Crypto Assets May Surpass Traditional Forms of Money

8m
dailyhodl

Market Update: Bulls struggle to push Bitcoin towards $11k. Here’s What...

10m
zycrypto

House GOP Leader McCarthy Likes Bitcoin But Criticises Facebook’s Libra

13m
zycrypto

Cannabis Stocks Blaze as FDA Expedites Landmark CBD Rules

13m
cryptonewmedia

Bitcoin Security and Ethics with Neha Narula - WBD125

15m
letstalkbitcoin

German Finance Minister: Facebook Shouldn’t Be Allowed to Compete with the Euro

17m
coindesk

Are Cardano, Chainlink and Ravencoin doomed to continue falling?

20m
cryptoslate

“Keep Big Tech Out of Finance Act” proposes $1 million per day fine on large tech companies acting as financial institutions

26m
cryptoslate

Chainlink Price Analysis: LINK/BTC Breaks out From a Descending Wedge

32m
beincrypto

Facebook Stresses Libra’s Compliance With FinCEN at Senate Hearing

37m
cointelegraph

Newsflash: Bitcoin Crashes Below $10,000

42m
cryptonewmedia

Bitcoin Dips Below $10,000 for the Second Time in July

42m
cointelegraph

Pound Dives on Boris Plans to Suspend Parliament

43m
cryptonewmedia

WATCH: Breaking Down the Libra Hearings

43m
coindesk

Komodo Antara framework for business-ready “Smart Chains” now live

1h
cryptonewmedia

Binance Plans Launch of Fiat-to-Cryptocurrency Exchange in South Korea

1h
cryptoglobe

Former U.S. Presidential Candidate Says He's 'All for Cryptocurrencies'

1h
cryptoglobe

US Senate Grills Facebook’s Crypto Chief As JP Morgan Chase Dismisses Threat From Libra

1h
dailyhodl

Polychain Capital Leads $7 Million Seed Round for Trading Desk…

1h
cryptonewmedia

Bitcoin [BTC] Price Drops Below 10k as Libra Senate Meeting Concludes – Here’s What Happened

1h
coingape

XRP Slides 23.4%, Mnuchin Presser A Ray of Hope For Ripple

1h
cryptonewmedia

Big Crypto Investors Flock to Grayscale, Sending Q2 AUM to $2.7 Billion

1h
cryptonewmedia

96% of Bitcoin SV Transactions Come from a Weather App, Report

1h
bitcoinist


Mark Cuban ‘Not a Big Fan’ of Facebook’s Libra

coindesk

4d ago

Mark Cuban, billionaire “Shark Tank” co-host, raised concerns about Libra’s potential to disrupt global finance when speaking to CNBC on July 12.

Cuban referred to the social media giant’s foray into distributed ledger tech as a “big mistake.” He continued to discuss the danger of introducing a destabilizing force into already unstable economies or political situations around the world. The Dallas Mavericks owner cited specifically:

“Some despot in some African country that gets really upset that they can’t control their currency anymore.”

Facebook’s project is intended to be a global initiative, a means to extend financial services and access to the more than 1.7 billion unbanked people around the world.

The Libra Association writes in their white paper:

“All over the world, people with less money pay more for financial services. Hard-earned income is eroded by fees, from remittances and wire costs to overdraft and ATM charges… When people are asked why they remain on the fringe of the existing financial system, those who remain “unbanked” point to not having sufficient funds, high and unpredictable fees, banks being too far away, and lacking the necessary documentation.”

Cuban suggests he is “not a big fan” of Libra because of the potential, reactionary impacts of extending financial access to the underrepresented. “That’s where the real problems start occurring,” he said.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments