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Why Winklevoss Twins Approve Libra as Crypto Despite Concerns

In a further show of support for Facebook’s crypto asset Libra, the Winklevoss twins waded into the discussion by giving their backing to the much-maligned project. Despite their chequered history with Mark Zuckerberg, the twins believe Facebook’s standing as an established tech company would be beneficial to crypto as a whole.


This comes at a time when Libra is facing open hostilities. Not least from political opposition, such as the French Finance Minister, Bruno Le Maire, who flatly condemned the project by saying it must not happen. Similarly, European Parliament member, Markus Ferber raised concerns over its potential to become a shadow bank. Whereas Bank of England Governor, Mark Carney holds a more amenable view, citing benefits to do with cross border efficiencies.


Libra executives likely expected a backlash. But the scale of opposition means they are now cutting back on their original plans. As such, it’s reported that Libra will exclude the Indian and Chinese markets. Read More at NewsBTC...


#Libra #Facebook #Gemini

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