Tagdavid marcus

Twitter Rubbishes Libra Co-Creator's Crypto-Fiat Pledge

Libra, Calibra, David Marcus

An attempt by the co-creator of Facebook’s cryptocurrency to “debunk” the notion that Libra will not threaten the sovereignty of nations has been greeted with skepticism on Twitter. While defending Libra from recent accusations that it would take away the monetary sovereignty enjoyed by central banks, David Marcus doubled down to insist Facebook crypto will not create new money. This is because...

Find a Bug in Facebook's Libra Crypto Software and Get Paid $10,000


Facebook’s cryptocurrency project is offering security researchers from anywhere in the world thousands of dollars to find bugs in its Libra cryptocurrency testnet. The Libra Association, which is in charge of the cryptocurrency project, will pay up to $10,000 for any critical vulnerabilities that will be discovered. These critical vulnerabilities include cryptographic implementation flaws which...

Crypto-friendly Switzerland Outclasses U.S. as Facebook Libra's Regulator

Facebook, Libra, Facebook Libra

Switzerland crypto laws have appealed to blockchain enthusiasts for years. Facebook’s head of blockchain, David Marcus, is no exception. He released a statement announcing that he expects the new coin to be governed by Swiss law. “Because the (Libra) Association is headquartered in Geneva, it will be supervised by the Swiss Financial Markets Supervisory Authority (FINMA). We have had preliminary...

Facebook Hawks Libra as Western Union 2.0 Amid Capitol Hill Slugfest

facebook libra david marcus, maxine waters

House Financial Services Committee Chairwoman Maxine Waters has been on a crusade against Facebook’s entry into cryptocurrency via the Libra project. Her rampage continued on Wednesday during a second day of congressional hearings devoted to Libra. You can watch the hearing below: “Keep Big Tech Out of Finance Act” Looms Large as House Scrutinizes Libra Waters and other congressional Democrats...

Watch: Facebook's Crypto Chief Suffers Brutal Senate Backlash

Facebook crypto chief David Marcus

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 discussed the potential ramifications of Facebook banking services. And subjected David Marcus to an...

Facebook's Marcus Panders to Lawmakers with 'Controlled' Libra Promise

David Marcus, Libra

Facebook is bending over backward to appease lawmakers in the wake of the backlash it has received for its digital currency Libra and digital wallet Calibra. David Marcus, who is at the helm of Calibra and who previously helped to run messaging products at Facebook, has published his testimony ahead of a Senate hearing scheduled for July 16. In the testimony, Marcus did all but admit that...

Facebook Crypto Libra's Leader Responds to Concerns and Misunderstandings

David Marcus, Libra, Facebook

In a responsive blog post on Wednesday, David Marcus, head of Facebook’s financial blockchain project 'Libra', covered a range of subjects including responding to sweeping concerns surrounding the crypto project. Congress Demands Facebook Halt Work on the Libra Cryptocurrency — CCN Markets (@CCNMarkets) July 3, 2019 He wrote: As expected there are also some questions and a few...

Facebook Cryptocurrency Chief Says Libra Is Not a Threat to Bitcoin

LIbra, Facebook, Facebook Libra, Crypto, Cryptocurrency

By CCN Markets: Facebook confirmed that its new cryptocurrency Libra isn’t designed to kill or compete with bitcoin. David Marcus, the man leading Facebook’s crypto efforts, said Libra and bitcoin can co-exist with differing use cases and that’s he a big fan of BTC. In a tweet yesterday, he explained that Libra is designed to be a stable payment system. On the other hand, Bitcoin, he believes, is...

Facebook Aggressively Hiring Blockchain Devs, Discussed Launching Cryptocurrency: Report

facebook cryptocurrency blockchain

Facebook has embarked on an aggressive hiring spree to woo crypto experts to expand its blockchain group amid speculation that the social media monopoly is considering launching its own cryptocurrency. Facebook formed its blockchain unit in April 2018 with David Marcus, the former president of PayPal and VP at Messenger. Marcus is a longtime cryptocurrency advocate and a former board member at...

Facebook: We’re Not Building a Cryptocurrency on Stellar

facebook patreon

Social media conglomerate Facebook denied reports that its blockchain task force is considering launching a cryptocurrency project through a partnership with Stellar. Citing a Facebook spokesperson, financial news outlet Cheddar reports that the company will not be building on the Stellar protocol, nor has its cryptocurrency division held discussions with the project about forking Stellar to...

Something’s Brewing at Facebook’s Cryptocurrency Division

Facebook, Livingston, stablecoin

It’s not entirely clear what exactly is going on in Facebook’s nascent cryptocurrency division, but several reports suggest that something is afoot. Facebook Meets with Cryptocurrency Project Stellar The first comes from Business Insider, who reports that Facebook’s blockchain research group recently met with Stellar to discuss how the social media conglomerate could leverage distributed ledger...

Facebook May Issue Its Own Cryptocurrency: Report

facebook cryptocurrency blockchain

Social media giant Facebook is exploring the benefits of releasing its own cryptocurrency, financial news outlet Cheddar reported on Friday. Citing anonymous sources familiar with the matter, senior reporter Alex Heath said that the company -- whose $533 billion market cap is a $140 billion larger than the current cryptocurrency market cap -- is holding serious, high-level discussions about...

Facebook Taps Coinbase Board Member to Lead Blockchain Initiative


David Marcus will be leaving his leadership role at Messenger to oversee a new Facebook team focused on blockchain technology, according to Recode. The team, which will reportedly have less than a few dozen employees, will include James Everingham, vice president of engineering at Instagram, and Kevin Weil, Instagram’s vice president of product. Stan Chudnovsky, who oversees product at Messenger...

New Facebook Messenger P2P FB Payments Could Eventually Feature Bitcoin


Earlier today, Andrew Aude, a Stanford Computer Science student, posted to twitter with pictures of Facebook Messenger's new P2P "FB Payments" functionality. Aude and other commentators likened Facebook's new payment system to SquareCash or Venmo. FB Payments has been in the making for a long time and has recently been revamped by Facebook's hire of David Marcus, former president of PayPal. ...

Paypal's Future Use Of Bitcoin Is Closer Than You Think


Earlier today, David Marcus (The current President of Paypal) tweeted: To clarify: we have no policies against using PayPal to sell Bitcoin mining rigs. We don't support any currency txn whether fiat or BTC... ...for a host of regulatory issues. But we treat BTC and any FX txn the same way. We're believers in BTC though. Now, when we here at CCN first reported on this happenstance, we were...

PayPal President says PayPal believes in Bitcoin

david marcus

This is really interesting. The PayPal president Marcus David has gone out in public telling us that they have no policies against using PayPal to buy and sell mining rigs AND that he and PayPal actually believes in Bitcoin. If this is good news or not for the current Bitcoin price is unsure. It could go both ways. See the tweets below: To clarify: we have no policies against using PayPal to sell...