Watch: Facebook’s Crypto Chief Suffers Brutal Senate Backlash

Facebook crypto chief David Marcus suffered a brutal grilling during a Senate hearing on the company’s Libra blockchain. | Source: Alex Wong / Getty Images / AFP The US Senate Committee on Banking, Housing, and Urban Affairs held a hearing on Facebook’s Libra project this morning, with Facebook crypto chief David Marcus in the hot seat. After a lengthy introduction by Idaho Senator Mike Crapo in which he called Facebook’s aims “commendable,” the committee […]

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Ever since Facebook announced its plans for Libra, which will be run by the Swiss-based Libra Association in 2020, many mixed opinions have been expressed. Recently Fed Chair, Jerome Powell was questioned by Chairwoman, Mrs. Waters, in regard to Libra and any potential risks tied to it. Powell initially started his viewpoint on expounding upon the importance he saw in supporting innovation within the financial services sector. While Libra’s project sponsors trust that this project would potentially bring public benefits (i.e. in terms of payments), he thinks more time is needed to fully grasp Libra due to some serious concerns… . Continue reading this and more #cryptonews by visiting the "link in bio" 🔗 . #bitcoin #cryptocurrency #blockchain #investing #bitcoinexchangeguide #blockchainprojects #trade #bitcoinmining #facebookcrypto #facebook #facebooklibra #libra

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