Paypal Leaves Facebook’s Libra Association
Paypal Leaves Facebook’s Libra Association


351665157-aa0f0d9130edce4b84ea97ffa18da722c4ee4b9c4424faf2ddb59989c21403c6.png

Paypal, one of the original 28 backers, has publicly withdrawn from the Libra Association, the governing body that is supposed to oversee Facebook’s Libra digital currency. 

Although they wished the association the best of luck, Paypal has realized it is best if it distances itself from the highly controversial initiative.  Shortly after Facebook announced its intention of developing a digital currency, politicians, privacy advocates, and financial experts became highly critical of the plans. 

The U.S. Congress has been very vocal and continues to demand Facebook come before them to explain their plans.  It has not gone well.  In a bipartisan effort, both Democrats and Republicans, including the President have made public their concerns.  European regulators are also expressing worries and asking for Zuckerberg to come before them and provide more information.

With the exit of PayPal, many experts believe that Visa and MasterCard are next.  This could be the first signs of collapse for the Libra Association. 


Matthew Rosenquist
Matthew Rosenquist

Cybersecurity Strategist specializing in the evolution of threats, opportunities, and risks in pursuit of optimal security for our digital world.


Cybersecurity Tomorrow
Cybersecurity Tomorrow

Cybersecurity strategy perspectives for the emerging risks and opportunities of securing our digital world. The insights of today will lead to tomorrow's security, privacy, and safety foundations.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.