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Libra's So Terrifying It's Making Congress Suddenly Embrace Bitcoin

congress embracing bitcoin

I never thought I’d see a high-ranking politician stand up and declare, “I like bitcoin.” But that’s exactly what just happened. House Minority Leader Kevin McCarthy practically sung bitcoin’s praises this week. How did we get here? How did we go from politicians ignoring and slamming bitcoin to embracing it?  The reason is Facebook. Lawmakers hate Facebook’s cryptocurrency Libra so much, bitcoin...

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...

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