New York Times editor: Facebook looking for investors for its cryptocurrency

New York Times editor: Facebook looking for investors for its cryptocurrency

By xlubecx | free life | 11 Apr 2019


Facebook allegedly seeks investors who would support the development of the cryptocurrency of this social network. New York Times editor Nathaniel Popper reported on Twitter.

Popper, referring to anonymous sources that are "well acquainted with this matter," claims that Facebook wants to raise $ 1 billion from investors to develop their cryptoproject. The search for external investments could be said to keep the whole project more in line with the decentralized ethos of the cryptocurrency community.

"Given that decentralization is one of the big attractions of blockchain projects, getting external investors could help Facebook introduce the project as more decentralized and less controlled by Facebook," he explains.

Popper added that the expected Facebook cryptocurrency should work as a stablecoin tied to a basket of foreign currency held in bank accounts.

The first speculation about Facebook's cryptocurrency appeared last December when Bloomberg informed about it. Facebook Coin was then associated as a tool for making payments between Messenger and WhatsApp and would be used mainly in India.

However, in February 2019, New York TImes announced that the token will work worldwide, including Facebook Messenger, WhatsApp and Instagram, bringing it to about 2.7 billion users. Anonymous New York Times sources revealed that Facebook employed more than 50 developers to work solely on this project. In addition, the process of negotiating with several exchange offices has already begun in connection with the possible listing of FB Coin in their offer.

 

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