Beller, 27, will become a general partner at NFX. She’d worked at a16z before joining Facebook. Source link
Libra
11 posts
One of the oldest venture firms in crypto has joined the Libra Association and will provide expertise and guidance on the launch of its payment system. Source link
A Libra executive has confirmed the project has still not lost sight of its original ambition to launch a multi-currency stablecoin. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
The Bank for International Settlements (BIS), the so-called bank for central banks, rejected the popular narrative that private sector stablecoin proposals (read: Libra) have been key in spurring the issuance of central bank digital currencies (CBDC) in a report published Tuesday. Instead, the BIS, in a new digital payments chapter of its annual economic report, said that central bankers have come around to CBDCs because the tech presents a convenient vessel through which they can shape the future of payments. “CBDC issuance is not so much a reaction to cryptocurrencies and private sector ‘stablecoin’ proposals, but rather a focused technological effort […]
Yesterday, it came to light that crypto functionality may come to PayPal and Venmo. If true, as substantiated by three anonymous sources and indicated by an open position for a senior blockchain research engineer, 325 million users would be able to buy and sell crypto. “If it does happen, it has the potential to be the biggest crypto on-ramp ever,” Mati Greenspan, founder of Quantum Economics, told Blockchain Bites. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. It’s an interesting time […]
Economists at the Federal Reserve said an earlier version of Libra, the Facebook-linked stablecoin frequently targeted by lawmakers and central bankers as an economic wrecking ball, was unlikely to have lived up to its sovereign currency-killer hype. Calling “fears of a so-called global stablecoin” “overstated” in a new report published Monday, economists Garth Baughman and Jean Flemming say policymakers may have focused perhaps too acutely on the likely downside of the previous Libra iteration’s multiple currencies backing a new stablecoin. The pair modeled a so-called basket-backed stablecoin in a hypothetical scenario, evaluating the likely impact that stablecoin would have on the […]
The first Libra white paper published in June 2019 had the temerity to threaten the monetary authority of central banks and governments. The empire struck back. That’s why an updated white paper from April 2020 has taken a belt and braces approach to regulatory compliance, said Dante Disparte, head of policy and communications at the Libra Association. The new technical document comes replete with buttoned-up hires and a pending payments license through the Swiss Financial Market Supervisory Authority (FINMA). Libra’s watering-down of its global stablecoin to a series of fiat-backed stablecoins has prompted some commentators to say the project has lost […]
Temasek, one of Singapore’s two sovereign wealth funds, is among the latest companies to join the Libra Association, the consortium Facebook set up to create a global digital currency. The addition may help explain why the Singapore dollar has figured prominently in Libra’s plans from the early days. In the initial vision of a new currency backed by a basket of different sovereign currencies, the “sing” was included alongside the U.S. dollar, the euro and the British pound. And when Libra pivoted last month to focusing on stablecoins pegged to existing fiat currencies, it mentioned the same four currencies as examples. […]
Enthusiasm for libra, the cryptocurrency backed by Facebook, swirled at Consensus: Distributed Tuesday morning, but Michael Shaulov, CEO and co-founder of crypto transaction platform FireBlocks, was happy to damp it down. Host Ran Goldi, CEO of liquidity provider First – which has the motto “We believe in Libra” on its website – re-emphasized his position very early on: “I will not be surprised if we see other stablecoins launch on Libra,” he said within the show’s first 15 minutes. When Goldi wheeled out Shaulov, he pointed out FireBlocks had already facilitated more than $7 billion worth of trades every month. “I […]
The Libra Association has named HSBC Chief Legal Officer Stuart Levey as its first chief executive. The Facebook-created consortium announced Wednesday that Levey would be joining “later this summer” and will be overseeing its efforts to “combine technology innovation with a robust compliance and regulatory framework.” He has been at HSBC since 2012. He oversaw sanctions enforcement through the U.S. Office of Foreign Asset Control and anti-money laundering regulations through the Financial Crimes Enforcement Network (FinCEN), according to a press release. Levey had already taken on the HSBC role by the time the bank was fined nearly $2 billion by the […]