Today Facebook announced Libra, its forthcoming stablecoin designed to let you shop and send money overseas with almost zero transaction fees. Immediately, critics started harping about the dangers of centralizing control of tomorrow’s money in the hands of a company with a poor track record of privacy and security.

Facebook anticipated this, though, and created a subsidiary called Calibra to run its crypto dealings and keep all transaction data separate from your social data. Facebook shares control of Libra with 27 other Libra Association founding members, and as many as 100 total when the token launches in the first half of 2020. Each member gets just one vote on the Libra council, so Facebook can’t hijack the token’s governance even though it invented it….CLICK for complete article

The current outlook for the cryptocurrency market has been downgraded from mildly bullish to uncertain, SFOX’s latest volatility report concluded on June 6.

While the report acknowledged that crypto prices recovered substantially last month, the authors described overall sentiment is at a tipping point — and warned it was unclear how much of the growth is due to FOMO (fear of missing out)….CLICK for complete article