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Libra shows Facebook is financially ‘tone-deaf,’ CNET founder says
Facebook’s plans to introduce a cryptocurrency show the company is ill-equipped to take on finance, the founder of tech news site CNET has claimed. “I think it is extraordinary how tone-deaf Facebook is about how and why the financial system works,” Halsey Minor, who founded CNET back in 1994, told CNBC in an interview at the Web Summit technology conference. Facebook in June first unveiled its planned digital currency, called libra, which was met with a wave of political and regulatory opposition. More recently, key partners in the initiative including Mastercard have backed out amid the backlash it received. ... (full story)
