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Facebook: The US Needs Libra to Counter China's Cryptocurrency
Facebook CEO Mark Zuckerberg will try to convince US lawmakers to back the company's Libra project by pointing to threat of China developing its own cryptocurrency to influence the world's financial markets. On Wednesday, Zuckerberg is slated to appear before the House Financial Services Committee to discuss the company's Libra project, which is facing scrutiny from governments across the globe. A key concern is whether the proposed crytocurrency risks handing too much power to Facebook when its reputation has taken a dive on the company's privacy scandals and its struggles to fight misinformation. A day before the ... (full story)
