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Visa, mastercard, ebay, paypal, drop out from libra..
will libra still continue ...? why one by one partner liba drop out.? https://twitter.com/coindesk/status/1182747730248118280?s=21

i think this libra will continues with or without any partners, because facebook already become a huge company my friend

Huge company doesn't mean they can just continue like that, a stable coin usually need a huge funding to reserve and if facebook is about to do that themselves I don't think the coin will be as big as if the partner is still willingly to invest into this coin.
The news about all these partners dropping out or withdrawing themselves from the project itself is already a huge bad news for the future of the project and you can still think about how the loss of money will definitely affect the project.

I thought that it's just PayPal but now the other big names has also dropped their partnership with Libra? oh well..

Yes, they've invested already for the developers and stuffs just to make this project happen. A drop of partner wouldn't be a reason for them to stop this project.

From Paypal now Ebay and Stripe, this is not a good sign for Libra project. There must be wrong why these large companies are pulling out. However they are still optimistic in continuing the project despite political pressures, but how long do the rest of companies will hold on to this.

There are many projects which performs even without strong backup or support. To continue the project is not a big deal, but to keep it alive is what matters.
If they got enough support to continue then definitely they will, and drop out of a partner is not a solid reason to stop the project.

According to that Twitter post that Op linked to, it's ebay and stripe that have withdrawn from the partnership.  Nothing was said about Visa or Mastercard, and I didn't know anything about those two anyway.  I also don't know what stripe is.

Paypal and ebay are in cahoots, so it makes sense that ebay dropped out as well.  I'll bet you anything that these companies know something that hasn't been released publicly yet, something along the lines of Libra never getting off the ground because of regulatory challenges.  I'm half expecting facebook to make such an announcement pretty soon.  It might be too early to say it, but RIP Libra.  Dead in the womb.

yes, i agree with this. this project is big, has a big partner. with 27 partners, 5 others have dropped out. and they are big partners based on digital money (not blockchain). I think this is indeed bad news. because these 5 partners already have international labels, I mean 5 partners are already familiar in the world of international finance. so maybe the impact will be very bad.

its strange as i thought they already had sold DPoS spots to these big companies, hmm
guess it goes to show us plebs never know WHATS going on till it happens in situations like this : /
i wonder what the "political pressure" was to make them pull out, China maybe? O_o

  The regulators aren't ready to work out a compromise yet, as I personally believe it is too early for crypto adoption amongst the masses, I mean, we haven't even fully integrated crypto into the current fabric of the regulatory systems yet, it seems quite divided between different governmental bodies, some say this, others say that, etc.

Well, I think the reason they dropped out is about regulation. because some time ago the Libra project had regulatory problems with Europe. and they said they were negotiating. and today libra project partners who comply with regulations have dropped out. I hope the Libra negotiations run smoothly, and not the reason their partners drop out.

There are just too much issues tied to libra and it might just hurt some of them but seriously I think it will still launch and also we have Open Libra even if it doesnt launch either way i will keep an eye

They are all dropping out because of the regulatory crackdown Libra looks like it's going to get in Europe.

Both Germany and France have stated that they'll be looking to block the launch of Libra in Europe, while government officials in several other countries have openly stated that Libra is a threat to national monetary policy, and will need to be watched carefully.

Personally, I think they're just jumping off a sinking ship. We'll see if Libra actually manages to launch at all now, let's hope they can take the risk and still push forward.

https://i.ibb.co/f2FXShL/s-191.jpg (https://imgbb.com/)

No surprise here really... 'members' are jumping of titanic because of regulations.
Telegram is also having issues with gram, even if they have ready project now.
I don't like Libra, but regulation even less

It's now become a domino effect, we will see more in the coming days, but I don't see Facebook Libra Coin stopping their launching they have everything in place they can do away without these companies, Facebook is such a huge company that it has been able to do so many things on their own, so I don't think it can be stopped just like that, unless the government step in to say don't launch.

I guess the project has been pressured by the governments or big banks that are against the launch of this project and this project will likely to be pulled out before it can launch or the missing individuals will be filled out by other entities.

There is a little chance that libra will still continue the project but if they still insist to continue it then they need to fill out the missing spots that backed out one by one. Finding a partner is not easy so the chance of the launch is very low base on what is happening.

I have read that Mercado Pago payment platform confirmed to CoinDesk that they would also "suspend their participation" in the Libra Association. For this reason ceo facebook Mark Zuckerberg will testify before the House Financial Services Committee, led by Rep. Waters, later this month.
Find out more here: https://www.coindesk.com/ebay-stripe-follow-paypal-in-quitting-facebooks-libra-project

I think paypal has found out that facebook is not really support this system seriously, i've ever heard that mark zuckerberg is not interesting or not investing on cryptocurrency.
So, i think this project is not fully support by the company

In my own opinion libra should stop and cancel their project because on that issue. All we know that their partners are also big company and institution even in outside crypto world. And now that they already drop out from libra project I think no one can give their full trust to libra because even their partner is already drop out. So this is waste of time and money.

whoaa, that was very heavy guys, the effect of a real drop out by their partner. shares from facebook fell. this is when a large project with a large partner has a greater risk. and when it's problematic, the effect is very surprising. and this is still at the beginning.

That's good, I hope to see Libra as a strong competitor of Visa and Mastercard before they get totally replaced. It forces governments to discuss cryptocurrencies, I believe that the balance is positive after all. Let Zuckerberg spend on lawyers and argue with them ;D I'm not a fan of centralized currencies, but I see them as an important part of the transition from fiat to crypto for the masses.

Facebook may find it hard to launch without partnership.But still just Facebook alone they can but more riskier, they can still survive knowing how Facebook start, there's no enough supporters yet look at it now. If they can solve the issues, approves in regulation and by the government they can definitely start Libra and gather other companies that might be interested when it's already live. Still depends on how they will be able to launch with many factors blocking them.

This is certainly bad for the project. They might as well call it off for a while and maybe test the waters next time if the condition is perfect for the relaunch plan. For now, the pressure is unbearable for Facebook itself and all its partners. The reason for the partners to drop out one after another is crystal clear, the SEC or the governments do not want them to play outside their rules. Now, they are forced to give up such a big project.   

Many partner of Libra have out and stop working with Libra coin, after PayPal and now Ebay and stripe left Libra coin. I know why many partner left and out from working with Libra because Libra do not look serious for building their coin, until now they do not have road map for their coin every years and when coin Libra announce for the public could be invest.

When PayPal could not anymore tolerate the heat produced by the Libra project and had to announce of it leaving the Libra Association, I know for certain that it would just take some days before another Libra backer to pull out and stop dealing with the project. And now, Mastercard, Visa, eBay, Stripe and Mercado Pago -- all decided to also get out from the Facebook-led Libra Association.

I am not a good at predicting the future but it can be easy to see of the possibility that anytime soon Facebook can be announcing the "temporary" shelving of Libra and maybe do some months of fine-tuning and maybe even restructuring Libra -- they should make it a real cryptocurrency decentralized and all the main features we all appreciate.

Another good idea is to disassociate Libra from Facebook but how they gonna do that will depend on their creativity and some willpower. Plus they need a new team maybe which purpose is to salvage of what is left of Libra...then change the name of the project maybe.

Should we say with certainty that Libra is on of the failures of Mark Zuckerberg?

I was never familiar with most LIBRA partners. but I am familiar with some big companies that have now dropped out of libra. and in my opinion is the right decision to drop out when libra regulation is not implemented. the libra project is a stable coin, and a stable coin is a duplicate of USD / EUR etc. which all have rules by the government. so I think failure is in front of him.

Perhaps now there are some confrontation between the curators of the Libra project and the world's leading payment services, but this does not mean that the parties are not working to eliminate them. Facebook is a very large and reliable high-tech company, I think that they are able to overcome any difficulties on the way to becoming their own cryptocurrency project.

Probably true. Facebook will have more difficulties and have to invest more of its own money, but they can probably handle it. It is interesting to watch this happen in real-time, though.

It doesn't matter much for facebook had a lot of subscribers.
It will be easy to advertise this coin even without the support of the said company names.

Maybe it will just be a good addition to their investment just so to make the project quickly improve or be fruitful.
Imagine a token that could be advertised freely with a millions of people connected with them.
In regards to the back out though. It may be because of the government threats.

It's most likely that this Libra project will not going to continue to see these huge and highly reputable payment business partners with large population of users will just drop Libra like that. Every project needs a strategic partners in which its impossible for Libra to stand with their own now.

They'll probably join again if the US starts to get friendly with Libra. If not, don't expect anyone to stay with Facebook for their ambitious project. They'll lose a huge consumer base if the US government ban their services too.

That graph is like jump hill  :o
Yes the regulation is like a barrier for company, there is the reason why currency must decentralized so no country can control it.
But i think that action is temporary, if government says ok, the investor will come back.

Business is business. If they don't get anything out from this project support will not be there while if there's something good to be benefits from it
surely they will come back and start following this project again. Tough call for them since US is not showing any good sign regarding to this plan
crypto project coming from Facebook demands will be affected as legality is concern.

Advertisement is important for a company to promote its product but it is not that important compared to huge funding that stablecoin needs to have.
with the bailout of those giants from their partnership, Libra will face a huge burden on their financial because of the expenses and more importantly the money it should be used as a reserve to stabilize the price had gone out with the bailout of those partners, Facebook might have million of subscribers but it does not mean they are willing to give their money to back Libra up. We are getting near to see the end of Libra

@DaMut is totally correct since Libra is categorize to be a stablecoin which need a huge capital that is why they made a lot of partnership with these large companies. They might discover some lapses with the project that lead them to drop-out or maybe it's not profitable at all because those companies are very business minded.

Libra coin is not launch yet they are experiencing a lot of issues internally so I was wondering too if they will pursue the launch on the next coming year?

This is strange, why these big partners are dropping out from the Libra partnership!? It seems Libra will face many obstacles and it started from Trump's statement. Maybe the government will stop Facebook's Libra movement. But whatever happens, I believe Libra will come to life by taking a longer time and when it becomes successful, all these partners may come again,!

It's not a surprise. eBay and Stripe have officially dropped out of the partnership right after PayPal and so many others. The companies said, they will no longer be part of the coalition that is backing the effort. This is a fairly massive hit for the project, with three flagship partners all bailing simultaneously. Will see whether Libra could be launched in 2020 as they promised. But I really doubt.

Maybe this is a difficult period for the development of Libra but in my opinion the Libra project will continue. Facebook has spent a lot of money to hire lots of great lawyers and this could be a factor that makes Facebook will continue even though it will face various regulations.

No doubts this will affect Libra as these all are international online payments and business platforms But Facebook is also world huge social and business platform, Hope they will continue let's see what Facebook plan without these companies.

Exactly! Whatever happens, I think Facebook will continue its Libra plan. You are right that Facebook spent huge money on it, but it's not about money here, Facebook understood the potential of Blockchain technology! I am not sure Libra would be good for the crypto industry or bad, but I am sure, If Libra becomes successful, the crypto industry will get massive mass adoption!

I don't think Libra coin, Zuck and facecrook will stop with what they want,
because even if all partners drop out, they will still push this thing to the end, one way or another.
Important thing is that all 'partners' recognized the need for crypto in start.

Well, I think Facebook should solve the problem of regulation. so they can continue their libra project. if not resolved. it is can possible that libra partners will drop out again. and if most of the partners drop out, then Libra will have to rearrange its plans and roadmap. because it seems like the biggest problem right now is with regulation.

One by one partner of Facebook Libra coin drop out and left Libra coin, why they left Libra with the same time? have Libra is not continue as cryptocurrency or how the future planning with Libra coin? after PayPal and now Master card have drop out from working with Libra coin.

They already hire some lobbyist if I'm not mistaken, so it's a go by all means. Although companies dropping out of their support will have a negative effect on Libra, but I don't see Facebook will just stop their whole idea. They themselves have invested so much money, and I'm sure they just gonna say f**k off to those companies, LOL. There might be some companies in the back ground just waiting to grab the opportunity for all we know.

When PayPal left the project, it wasn’t worrying, now it’s clearly visible how the rats flee from the sinking ship. Regulators took the crypto sphere very seriously.
I don’t even know what Facebook needs to be done in order to regain its influence, although Zuckerberg probably has a backup plan, and I hope Pavel Durov also has it.

I have read a number of articles discussing Libra coins, and the causes of many investors from the Libra project who resigned, and most of them reasoned that the regulatory difficulties of the American parliament will negatively affect their other businesses later, with many investors leaving of course this will cause Libra Coin to decline in the official launch of their coins later, and I think this shows a sign there will be many problems in developing the Libra Coin project later on Facebook.

Probably the decision of those three who drop their support is affected by how Mark reacted during hearings.  It's like Mark does not know anything about their operation.  All his answer is somehow inline to being soso, without any solid stance on the issue,  Pretty much playing too safe I guess.  Although three of its  support had withdrawn I think Libra will continue because there are still many company to support this project.

   I did not watch Mark`s hearing. Your description sounds like him, he is talking a lot, but in the end he does not
say much. Personally I don`t like him! 
   Libra will continue, but they will have many problems with partners. I believe more of them will drop out in the
next period. Why would anyone risk with them? There are better way`s for entering crypto-currencies, and big
companies are starting to realize that.

Many of the institutional investors care about their reputation. These companies were greatly influenced by the USA government and explained the consequences to them. To avoid unnecessary problems, these companies provide secret support for Facebook and Mark Zuckerberg. I think that after the announcement of Libra, many institutional partners will return to this industry and we will see a massive popularization of the idea of cryptocurrency.

Even backup plan can't save Libra from losing the money that actually should be there if the parnet didnt decide to back out from investing into Libra due to the regulation backlash.
I think libra is just too premature and they really need to settle the regulation first before ven releasing it to the public. it seems that Facebook is not really anticipating all these problems back then when they first announcing Libra to be released on public.

The articles that were out says about Visa and Mastercard. There's a good detail that you can read through this.

https://www.theverge.com/2019/10/11/20910330/mastercard-stripe-ebay-facebook-libra-association-withdrawal-cryptocurrency

@crossabdd, yes that's the probable reason why they've dropped their attachment to the project. They just don't want to get involved that's being questioned by the government. It's best for them to do that rather than to put the company at stake.

@PBS, stripe is known for payments online.

https://stripe.com/

I see very small possibilities that Libra as a project will continue, as soon as Facebook made the announcement all the governments of the world immediately refused to let Facebook have their way and it is easy to understand why, if Facebook were to release its own coin then you will have billions of potential users of cryptocurrencies, even if there were very strict regulations it will be impossible to monitor everyone.

And what it is even worse it will give all of those people access to this market, if Libra went live I will not be surprised if the market cap of bitcoin doubled in less than a month as such it was imperative that governments stopped Libra before it launched.

As far as I know, the reason is that US senators have sent letters to some financial companies, noting that these companies may be subject to stricter scrutiny from financial regulators. , if those companies are also involved in Facebook's crypto project.

This is the exact answer. Those companies value Libra's very high potential. But because of the US government warning involved companies for stricter scrutiny forced them to backout.

Are these companies scared to be scrutinized? Maybe they know that out of their millions of transactions there were many times they failed to act according to anti money laundering? Why so scared if they're doing well according to laws and regulations?

I agree that it is somehow imperative for the governments to stop Libra at all cost before it is launched. Such project after all is too disruptive of the fiat system that it might really give more than just a tiny dent. And the actions of the governments are not really to protect the people from the project, it is to protect the current system to crumble down. If Facebook and all its partners will continue with the project, there will be more similar massive projects that will follow. And the governments cannot contain all of these.

The result is still 50/50, as the situation of libra right now, it will be hard for them to make another step. If they somehow manage to create an alternative plan on this kind of situation they may be able to stand even if their partners drop out on their partnership, and even government can't stop them from making a progress. Further announcement should be release soon for this matter and if it is positive for the side of Libra, this may help for them to make a new action plan.

Those partner know what will be the consequences to the platform if they will continue supporting it. the demand of their bussiness will decrease this paypal is the example .

I bet. This is actually hostage taking. Paypal, Visa, and all those that finally decided to quit from the project have to choose the right battles. And this time, they are probably right. They cannot put up a worthy battle against the governments. All their registrations, licenses, and approvals are coming from the governments. They commit a grave mistake against these powerful bodies, they will regret it big time.

Well Libra has still many partners so I think they can still continue without those drop out partners. I think the government behind this why the big companies drop out partnership with Libra, who knows.

Although Libra came from a huge company, it doesn't really give much impact to the market unlike other coins such bitcoin. It only made noise when the news about Facebook creating a coin, pop up and when it started but it didn't last for long perhaps because it is centralized. It's a big loss to Libra, but it's up to them whether they'll continue Libra or not, it's not a loss for Facebook if Libra would stop

In my opinion the Libra Coin Project will continue even though many partners have left it. Facebook is a big company with huge resources and I think they don't want to miss the chance of success in the cryptocurrency market because the potential is still big

Libra will be a good addition to crypto-market. Yes, it true that many unhealthy news (https://www.coincurb.com/news/libra-says-the-regulatory-concerns-are-fading-away-but-are-they/) are speculating for libra but its supported by Facebook that will be a main core behind its success.

didn't know that all those partners have already turned their back to the "great facebook"... only heard about paypal...
anyway, this is great news for true crypto, as the project might go ahead, and Facebook has so much money that they might even cover the lack of funding due to partners fleeing, but without their support, the project will become marginal...
let's hope so, because facebook can use their huge user base to produce a volume that would obliterate the whole crypto market

I think Facebook will continue with this project. because Facebook is a large company that is worldwide and has 2 billion users. Facebook will not back down they will continue with the Libra project. although companies that support libra are reduced. Facebook still has the support of several companies such as Uber and PayU. we wait whether facebook will successfully launch libra in 2020?

yes they can continue even without they can do it alone . a few support fromr will be enough for libra to continue.

I believe Libra is powerful enough to keep developing themselves further. Besides, in two weeks, there would be another meeting with Mark, who will try to keep Libra save. However, the chances of Libra getting through have significantly decreased.

Big companies dropping out one by one will affect it for sure, but I believe they can still launch it since its backed up by Facebook.

However, they will face the same problem each coin is facing, governments and regulations!

the resignation of these five companies is actually not too surprising. Visa, Mastercard, and Stripe, for example, are reportedly considering their membership in the association. Previously, the digital currency Libra did get a lot of criticism. One major problem is the absence of regulations governing digital currencies, raising concerns about the impact on the global financial system.

all these campaigns are likely to come back if LIbra manages to resolve all issues with the government. These major campaigns show their true face. what matters to them is not cryptocurrency or the improvement of our world, but simply money.

This kind of news really makes me happy. Because I wish the Libra project was completely destroyed. I would never support the leader of a corporation that sells and monetizes user data for the United States elections. No one should support it. I hope all partners continue to leave the project and the project is completely destroyed.

Libra is currently trying to create a negotiation with FINMA and this is the only way for libra to acquire a license payment system from swiss to operate in the Canadian countries. Government is only trying to protect its economic system. This is why EU and US have already banned libra and the authorities from EU and US not accept libra as the next payment system.
it still continues and libra is not yet giving up.

Most of the dropping partners have some sorts of rival payment system on use. Libra if fully implemented could pose a threat to them. They are also interested in developing their own private cryptocurrency. So, with raising concerns and negativity about libra in the congress of the United States, they'd like to stay clean unless crypto hits a paved road.

I thought it was just Libra that dropped out in this partnership. I can't believe that even these big names even dropped. However, facebook is facebook. It is a big company and already invested a lot for devs. So I don't think this would be a problem.

sounds like hate but I like you. I support what you have said, in any aspect I do not really like the news about facebook coins. but if there is news that says some well-known companies are starting to leave it and I'm happy with this news.

Maybe they have already seen doubts about the success of the Libra project with a small percentage so they went out from support Libra. But I see the CEO of Libra, Mark, still will Continue the project with the remaining support. We as spectators can only witness one by one going out from supporters of the Libra project

These partners seem to overestimate their worth, didn't they know that its them that needs facebook?

I wouldn't be surprise if facebook take revenge of them by disabling their facebook pages. Facebook literally can actually limit the visibility of these quiting partners. Probably won't do that though. If facebook over comes this ordeal in pursuing Libra, they'd all come running back again like they won't care what sanction the government will give unto them.

You sound like a person who love facebook. I think that facebook is just a social network, they worth a lot in the moment, but that can change over time. They fast rise can lead us to think that their fall will be fast as well. I`m saying that cause I`m not so much into facebook, even less with libra coin, I see all that as attempt for facebook to grow into a bank. I`m glad to see that some of their partners are dropping out, I don`t know why they signed up for that in the first place.
Who cares about facebook pages? Do you really think that someone depends from facebook and their pages?

They do depend to the facebook traffic, why do you think they advertised more on facebook ads than on google these days?

Facebook do not care about those who doesn't use them, its not their business to convince anyone to join them anymore. The reason why facebook tries to have their own coin is because they adapt to the changes, its what made them on top.  I don't have personal account in facebook either, all I have is a fake account and I suppose those who claimed no account says the truth.

My point in supporting facebook is where crypto should be going, you don't need to invest to Libra, we all know BTC is the only coin that has value. But Libra however will put cryptocurrency in the mainstream. Fuck Libra its only for them but with it, there will be more exposure.

As a huge social media company, the road can not be completely closed for the Libra project. The consequences of the dropped partnerships will show a bad effect but I doubt the developers will not continue to do what they are planning to do for the future of the Libra as a stable cryptocurrency. The payment processing merchants also will not think about to make a new partnership with Libra in my opinion.

Missed this post in the week-end, have read the news today and was quite shocked. What a blow! After PayPal now MasterCard, Visa, Mercado Pago, Stripe, eBay, Booking Holdings. are all out; yes the list is growing.
After PayPal I said that things will go on. But this is a very powerful signal and I think that the things indeed start to look bad (although they still have a lot of backers, at least on paper).

Libra future has just became uncertain.

This could be the reason for the Libra cryptocurrency to lose and just shutdown because some of its big partners are backing out and that affects a lot of the potential future of Libra. There is a lot of people that are against Libra because they don't want another type of currency that is centralized and not purely regulated and controlled by the government and for sure they are happy that some of the partners of Libra are backing out.

At least the remaining supporters can give hope to strengthen the market capacity. I do not know I'm also not so sure, the existence of libra and association provides clear regulation of cryptocurrency. I don't know, whether it's positive or negative because we know that bitcoin has no regulation.
https://i.postimg.cc/hGYbDBZX/libra-aso.jpg (https://postimages.org/)

Other organizations are moving away from libra.

Many governments and agencies around the world (USA, China, Europe) are opposing libra and proposing or creating extremely tough legislation, both for libra and for the companies that make it up.

United States Treasury Secretary Steven Mnuchin has attributed the recent spate of firms abandoning Facebook's Libra stablecoin project to regulatory concerns (https://cointelegraph.com/news/us-treasury-secretary-says-firms-left-libra-due-to-compliance-issues).

Recently "Booking Holdings" and "mercadolibre" have left the project as well.

I think the main reason is the impact from the government, imposition orders or goals that make the partners unhappy. Despite many difficulties, Libra is gradually developing, troubleshooting and will soon officially launch this platform and currency.

The Libra is under the scrutiny of regulators, and therefore Libra’s partners just run away from danger. However, I think that Libra will continue, too much money and effort has been spent on the project. Let's just see what happens next.

is this is the end of the line for mighty Facebook Libra Coin? Ops, some people were saying Libra is going to be the next King of cryptocurrency. Where are they now? It appears Facebook Libra coin is about to become a history since its backers are starting to run away one by one. I never saw a coin with so many backers like Libra - what a joke!   

Since Libra is facing so many disappointments and issues regarding data leaks or data exposure. I highy doubt that Libra will continue to launch their coin. After so many partners and investors that are withdrawing and turning their back to the project, the big question is--how can  their project be successful without having a support from investors?

They will gonna launch the said project if they already met the criteria as we know they are facing some oppositions and criticisms right now.

just still several partner in Libra coin after many partner like Master card and PayPal have left Libra coin, since first Libra launching to the public faced with many trouble from team and many country dislike with Llibra coin, Libra look not serious with their coin become part of cryptocurrency although they have many investor in the world, less percentage Libra become good and potential coin at the future if situation of with Libra can't fix as possible.

In fact, such news are no surprise. Because Facebook, and Mark Zuckerberg in particular, has a pretty bad reputation for privacy. The fact that MZ is still in the judicial process leads to a separation of partners.

Frankly, I haven't supported Libra since the beginning. Because the Google Analytics case is important to me. And I want Facebook to continue to be prosecuted for this case.

Hopefully, the whole project will get scrapped, it's an awful project for so many reasons, first it's centralized as heck, second, it's run by Zuck!!! Third do we really need another stable coin run by facebook no less? the most evil corporation on the planet

In the first place Facebook should not included or partnered to companies until they are launched, Cryptocurrency is a very different business, not like other business ventured they've been in the past, they should have feel on their own how is it to be in this industry, before doing partnership, because Cryptocurrency is a business where regulation is still not that strong.
Government will create a new regulation to tame Facebook because they see it as a threat.

It seem most Governments see Libra as undermining the sovereignty they have over money, with the US senate hearing at the end of the month, many of their partners are scared to be dragged into some tussle with the government. The French Economy minister already hinted Libra wont have a sail in Europe

They also earn almost 1.7 Billion $, Enough to stand up straight and move on without the advice of others. Many are looking forward to investing in the "Libra " and will surely blow up its crypto world when it is listed on the exchanger

Those probabilities are too high, you must understand that if Facebook decides to go forward with their project despite the protests of the governments there are going to be huge consequences, and if you are the CEO of Facebook you are not going to want to risk the company to those consequences, this is why bitcoin is a decentralized currency, because even if governments can try to influence some of the big players in this market they cannot stop bitcoin.

For example if they could scare away miners this will only mean that the average person will be able to mine bitcoin once again but in the case of Libra there is only one entity that they need to regulate and that is Facebook.

After the United States and European Union states expressed a sharp negative assessment of the upcoming appearance of the Libra coin, and the finance ministers of the European Union countries announced that they would not allow this coin to circulate on its territory, financial partners began to leave this project one by one. Without the USA and Europe, Libra has practically no chance of a full circulation.
Considering a recent report by the G7 countries and the Bank for International Settlements, which states that Libra will pose a threat to international financial relations, I think that Libra will probably never appear again.

This is not good for Libra. One by one Libra partner goes somehow, what is happening.
But whatever Libra does should still be realized. Partners will not be the reason they stop this project.
Because Facebook has become the largest social media and should make it happen.

This seems a major setback to facebook as these leading financial partners are quitting facebook libra project. I am wondering what went wrong?
Seems Facebook has not done a good homework  before planning the libra "project". Also, as a major social media entity, its obvious that it will receive resistance from all over the world who are not in favor of facebook.

This is a miscalculation by Facebook, they thought that banks and many other powerful institutions that rule over the world will allow them to do whatever they want, what they were unable to grasp is that those institutions function in a very similar way to the way Facebook works, Facebook is a monopoly and as soon as another company appears that threaten that monopoly they do everything they can to crush it.

And banks are the same, if Facebook released its own coin you can be sure that there will be many people using that currency, it will become popular really fast and banks cannot allow that, if they did they will lose the control they have over the economy and they will never allow that.

My thinking is that they are seeing problems with regulations and believe that the project will not be approved after all.

I did not know that Ebay was in from the start in this project, it would have given huge boost to applications to this currency. I am not a supporter of this project btw. I dont think it would be positive currency from any point of view.

I'm currently watching the congress conference with Zuckerberg and it seems more partners will drop out after today especially if they are based on USA as the regulation won't come easy or won't come at all. But besides this Zuckerberg clearly told that there are A LOT of new partners going on on deep talks in order to secure a position on the project by paying a minimum of 10$ mil which is a big amount of money to get it.

If libra will work only for facebook ads, than they will have a massive daily volume.

I know lot of crypto people skeptic about libra, but actually it could be groundbreaking and even it can improve general opponions about cryptos.

best thing to describe libra but hey! they are STABLE COIN :D STABLE COIN> which cant get the investors stable?
i hope they will never be launch! i will never lie i did want FACEBOOK to get there on coin in cryptocurrency but this must not be in this way! i never thought they have a project like this!

Zuckerberg directly stated today that Facebook is ready to exit the Libra project if regulators do not approve it. He also said, as far as I know, that the Libra project is not an independent association from Facebook.
This means that this very tricky move Facebook can crank up to save face, and enter the Libra project later when it is convenient and approved by regulators.

Should we see this as threat or what because we were not even the one that demanded for the project in the first instance, it is Facebook that is trying to impose the project on us for their own interest. If regulators say that they don’t want it, I think those regulators are more comfortable with the intention of bitcoin creator than they are with the intention of Facebook Libra owner.

If Facebook really feel love for cryptocurrency and wants to make any impact, he should use his large social media database to actually promote bitcoin, because he should know fully well, that bitcoin is the only currency right now that can give us the true freedom that he feel his currency will give or for any purpose that he feel made it deem fit for him to create the coin.

If that is what he was trying to achieve I will agree with you and in that case he should take a positive stance towards bitcoin and promote it as mush as he can, but I doubt that was his objective, he just wants to obtain more money and become more powerful and he thought it was a good idea for Facebook to try to create its own coin, but he did not realized he was stepping into the shoes of the governments and they were never going to allow this.

Governments do not take lightly when someone tries to take authority or power out of them and if bitcoin still exist is because is decentralized and we do not know the identity of its creator which are the opposite circumstances of the Libra project.

Even if we do know Bitcoins creator there no way we can stop it unlike on other centralized coins which can possibly be stopped if they wanted to.

Government do hate up those things that cant be controlled and they already saw Bitcoins features and its really a threat in terms of anonymity and decentralization and now
Facebook do tend to create on its own? We do know on how big it is and government already presumes on what would be the possibility of the outcome yet supporters of this coin will be massive basing on the current numbers of fb users.

Can you provide a link though where Mark directly stated that?

Because I was under the impression that Facebook or Mark himself is very passionate to release Libra next year and will fight any backlash against them. They even hire lobbyist, so there's a plan to really get this project moving next year.

Libra partners are dropping because obviously they are afraid of US government putting all their efforts to stop their projects and partners might be affected negatively.

I think this is the news he was talking about
https://www.cnbc.com/2019/10/23/facebook-would-leave-libra-association-if-it-moves-forward-before-approval.html (https://www.cnbc.com/2019/10/23/facebook-would-leave-libra-association-if-it-moves-forward-before-approval.html)

Their main point here is, Mark Zuckerberg or Facebook itself will abandon the libra association if they will continue to move forward without the regulatory approval. He is against the libra association's decision to release the project even without the approval.

I tend to think otherwise, that is, Libra is likely to stop. The reason is, these partners joined in the first place owing to what they believed could come out or what the future holds, but now the credibility is being questioned they had no choice than to quit. We should remember that partners contributes in one way of the other towards the development and growth of any project, if Libra has it all it wouldn't have requested for partners. Nevertheless I might be wrong, but this is what I feels will happen.

Facebook was very greedy in wanting to release their own cryptocurrency.  They make a lot of money from services, from selling user data.  They have many partners but they are not really serious in the project.  Unlike the CEOs of other large corporations, Zuckerberg doesn't show much interest in Bitcoin or other things related to Blockchain or Crypto.  And moreover, they are having trouble with the regulations regarding currency issuance, only when Libra operates as a bank will it be accepted.  This makes the government unacceptable, each country just needing a bank

Considering recent challenges faced by Mark Zuckerberg regarding his intention to develop libra,  it might take a while before the full launch of Libra. The partners of Libra drop out because of the legal challenges faced on the own idea of creating a digital currency that has the potential of devaluing the US dollar.  The launch of libra will not be any time soon.

I think they will no longer have enough capital and afford to continue debuting. The US government is really making things worse for Libra.
The bad news is constantly appearing when the hearing takes place and the size of this project is getting smaller. We can see a dark future and it seems that Facebook will end this project soon when there are no more important partners like Visa, Mastercard.

Oh really? They lost the most important partners especially in the payment industry, these partners could provide Libra experience in this industry and without them I think that the chances of launching are now much lower.

The chance of creating the Libra coin is already lower right from the day some government and institutions are against the project concept which also the reason why some of the project partners slightly drop out. Besides, i also learned that the chance of coin to be a success is 20%.

These were key partners, but by no means the only ones able to provide their payment infrastructures.
In addition, cryptocurrencies already have a fairly well-developed infrastructure, therefore, without these partners, the scope of the project will decrease, but not critically.
Especially with such pressure from regulators, I would be surprised if all partners remained in their places.

If they left the project that doesn't mean they will not come back when Libra will be successfully launch.
Maybe they are just playing safe at the moment as Libra has been criticized by the government but since its not operational yet, its not a big deal though.
The influence of Libra is huge what they need to focus on is just to have a successful launch and good news will follow.

I've been hearing about Libra and its relationship with Facebook months ago but it seems that the hype dissipated before I paid attention to it. So this is the reason why. I hope the Libra team is able to still launch this project even if its mainly for Facebook use. I don't wanna be skeptical, I know lots of people are using Facebook but it doesn't mean it has a huge market as only still a few percentages of users are aware of crypto. Still, they'll be doing another great job because through them more people will be aware of how useful crypto is.

The main reason these major partners withdrew from the project is because of regulatory pressure and Libra is not at a stage yet where it compliant enough to cater for large payment processors needs in this area, but hopefully will be next year which if so will be another turning point for the industry

That's also what I'm looking for, these companies that left Libra will go back when it is safe, they have an interest to protect and they want nothing to do with Libra coin now, but things will change after they soften these adversaries, but everything is yet to be seen, so we have something to watch out for next year.

FB was consistently destroying its reputation and this is the result. I choose to support less known but clean projects like Amoveo

Nothing will stop, there are tons of companies willing to get into this alliance and be a part of Libra. Wait for several more months and you will see that empty places will be booked by same size companies or even bigger.

Currently Libra is still facing obstacles in regulation and I think companies that want to partner will prefer to wait because it will affect their company's reputation. Facebook as a large corporate entity will definitely look for legal loopholes to get them through this issue and I think LIbra might be stuck for a while due to regulatory issues.

As Libra was not launched yet, any partnership can only be use once they start to raise funds, but actually even if without partnership during the launch, they can still get funding from different investors if they will open this up to a crowd sale where even small investors can participate.

They all have the option and strategies on how to raise funds and with their reputation and money, they'll surely be able to raise funds for this project that's why this factor was not emphasize much because people are more focus on the regulatory compliance.

This is unlikely to happen. The Libra project, if released, is unlikely to reach half of the popularity and relevance for which it was designed. With the advent of national stable coins of various states, such as the USA, China, India, which have already announced their release, it is unlikely that many will still prefer to use Libra. Zuckerberg’s authority in comparison with the authority of the leading world states does not lend itself to any comparison.

The partners just withdrawing after government backlash and it has nothing to do with FB's reputation. They are just afraid of the government and see no future in this project therefore dropping out. Even if facebook has really good reputation they will still drop out from this partner ship if what they face is government which seen as absolute force and they are going to put big money here, it's just logical.

Well, even without the support of three partners, libra coins will still be able to run and launch tokens, especially because the Facebook community is currently very large.
Especially with news like this, Libra is increasingly interesting to be able to get a Libra token to hold in your wallet.

this is indeed a controversy that makes the libra market bigger later. because the market of Facebook users who are already large will also grow with people who are curious about the news on the media. libra is indeed worth to see how it will play in the crypto market. or they will only be coins that are only used on the facebook platform.

I agree. But the problem here is that the Libra management has gone cold turkey now. For the last 2-3 months, both Zucker and David Marcus have been giving excuses to delay or abandon the project, saying that it will be difficult to get the required permits from all the regulatory authorities. The main purpose behind the creation of Libra was to give the stagnant revenues of Facebook a major boost. But as the latest financials indicate, Facebook has managed to do that even without the help from Libra.

I think Libra will be a very good project to develop, but some time ago I read some articles that the founder of Facebook came out of libra development and did not want to continue, and there are still many big companies that also came out.

basically, facebook and libra are totally different. many people like facebook but it doesnt mean that they will like libra too
this is in line with government which againts libra. bcz it is very dangerous for economic system
againts from government, dropout partner makes me doubt libra would be launched.

don't know what will happen if the libra partner keeps dropping out, but libra only needs legal regulatory oversight, so it can be concluded that it doesn't matter when the partner decides to drop out because when libra gets regulatory oversight that is recognized then of course libra will still continue, i will only look forward to what will happen later and hopefully there will be a breakthrough that is amazing from libra

i think US regulated make LIBRA is hard to launch even if LIBRA success LAUNCH i don't think all country can use it.

This companies that have backed out of libra's project are worried about the regulations libra will faced in the future. But we will see if they can pull this off, if they're money will help them to make it through. Overall, it doesnt have much impact on project itself as libra or facebook company have already been established and can keep going without them.

I think dropping out for the time being is good for this major corporations in order to distance themselves on an innovation that has yet to segue into mainstream regulation yet. Congress is holding Libra back, partially in fear of the repercussions it could have by having a company as large and as far reaching as Facebook has become. I think fear, uncertainty, and doubt are whats holding Libra back. Perhaps the worlds leaders aren't ready for a globally used cryptocurrency, because that's  most likely what Libra will end up becoming, stable-coin or not.

In my opinion libra will continue to move forward even though one by one its partners drop out, because libra is still supported by facebook
who have a lot of funds. So it's possible that Libra will still be launching, which is a problem, not the partner of Libra who dropped out. But
the decision of the American government that has not yet agreed to launch libra coin permits. There is speculation that says libra will launch
in 2020.

Libra can still proceed without all those big payment companies but i doubt if Libra will perform very well, they will face more tough challenges in near future especially from the government and central bank

It's not caused by less consistently but the fact that if regulators were not feeling funny to see facebook interested to create its own stable coin. So many times those regulators are arguing if that will be a threat for the centralized ecosystem as so many bankers are also preventing it by give pressure to the facebook to cancel it.
facebook has an intention to make it clear in short time but the regulators didn't.

Of course the developers of Libra would continue with the project irrespective of whether PayPal and other companies backed out they have the project white paper already and developmental  plan although the project is facing some sort of regulatory challenges by the US legislators and I am very sure other countries would also checkmate the purpose of that coin and how it going to affect ttheir monetary policies

Libra's performance cannot yet run commercially due to the absence of regulation, they will only continue to run in concept and this is their real challenge now, the same investors will return if there is an official agreement with the regulator, if not then they should think to choose a server in other countries and must be prepared to separate from Facebook.

The cryptocurrency that does not choose a partner with Bitcoin and Ethereum will be deadlocked. As good as any program now about crypto, the source remains on Bitcoin and Ethereum. The blockchain system on bitcoin does not have a smart-contract, whereas the first blockchain that has a smart-contract is Ethereum. So, Blockchain belongs to Bitcoin and a smart contract belongs to Ethereum.

I think Facebook will insist on this. I don't think it will be a rival to Bitcoin. Libra will open the door to another economy. The common numbers of Libra may decrease day by day. Facebook alone can accomplish this project alone.