A Partner at Binance Expresses Optimism Over Facebook’s Libra

[mich]

A Partner at Binance Labs Expresses Optimism Over Facebook’s Entry Into Crypto With Libra

https://cointelegraph.com/news/a-partner-at-binance-labs-expresses-optimism-over-facebooks-entry-into-crypto-with-libra

Speaking to Cointelegraph at Blockchain Week Rome, Teck Chei, partner at Binance Labs, said that he sees Facebook’s Libra Project at a step forward for crypto and increasing public awareness.

In Chei’s own words:

    “I think having a company like Facebook, with such tremendous reach and distribution, into all different countries around the world – having them be interested in cryptocurrency and launching one is a very very positive thing for our industry. It brings a ton of awareness to people who have never heard of cryptocurrency.”

Binance is one of the largest cryptocurrency exchanges in the world at present. Binance Labs are the company’s venture arm.

Regarding concerns over Facebook’s use of crypto representing a step towards centralization, Chei remarked that they are one of 100 founders of Project Libra.

Binance and Facebook will be able to work together, Chei predicted:

    “We naturally will engage with Facebook to kind of see how we can help advance the industry together.”

Facebook’s Libra project has been subject to no small amount of criticism, both from governments suspicious of Facebook’s data use and from die-hard crypto followers concerned about centralization.

In the United States, Libra will be the subject of Congressional hearings in July over concerns that Libra cryptocurrency will pose a threat to security. After briefings on the subject last week, Representative Emanuel Cleaver II reportedly commented that

    “We’ve seen the significant damage that foreign adversaries and bad actors have wrought on our democracy through Facebook’s platform, and that was simply through messaging and advertising.”

Chei’s commentary comes on the heels of Gin Chao’s statement that Binance was engaged in official discussions with Facebook, as Cointelegraph reported on June 28. Chao said that Binance was “looking forward to working with libra as much as we can.”

Earlier in June, Binance announced that the exchange would stop serving clients based in the United States in September as they configure a U.S.-dedicated platform.

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[veleten]

Binance will express optimism even if devil creates his own blockchain crypto called Limbo
but only if Binance gets to list it and trade it
not sure about tons of awareness , but Libra is going to challenge bitcoin and serve as a pseudo-crypto  centralized substitution
I would love to see the global elites lock horns with the US countire's elites and see who is going to get the upper hand in this

[buwaytress]

    “I think having a company like Facebook, with such tremendous reach and distribution, into all different countries around the world – having them be interested in cryptocurrency and launching one is a very very positive thing for our industry. It brings a ton of awareness to people who have never heard of cryptocurrency.”

    “We naturally will engage with Facebook to kind of see how we can help advance the industry together.”

    “We’ve seen the significant damage that foreign adversaries and bad actors have wrought on our democracy through Facebook’s platform, and that was simply through messaging and advertising.”

I wondered actually whose side they'd be on, and when the news came out that Binance was strictly on the same side as Libra, this was only a matter of time. Expect both sides to exchange back slaps on the media for the next few months, and then social media shout outs to each other. That's how it works.

They have more in common than people think, or than even they might believe. Corporate. Profit centric. Educated by money. They talk about crypto awareness but don't want people to take care of their own money.

[rodel caling]

Good news and great partnership for both popular and biggest company form social media and crypto exchange industry. This ideas is good way to continue crypto become popular and stronger currency not only for libra but I believe this can bring to the crypto currya good feedback result, people become curious and aware all about crypto how it work as new digital currency using online exchange wallet by the help of facebook promote their project.

[aioc]

We should all be positive about Facebook's entry, this will create awareness of cryptocurrency to none users and nonbelievers, I believe it's a giant step for awareness and people will think that there is nothing illegal on Cryptocurrency because of Facebook's entry.

[peter0425]

Binance want to partner Facebook's Libra so their trading site will grow if this run already here in crypto because FB know worldwide

And i think base in this situation then US can't really stop Facebook's Libra because Binance will help this like they going to accept this then if this possible of course some company,country,different trading site then more will also help FB Libra like many will trust this so this will grow

They have their own business model, but hey, Binance is growing strong and really want to take the foothold on being the top trading exchanges, so I wouldn't be surprised if they partnered with FB. But they need to study the coin more as we all know that it has attracted a lot of media attention and might not be good for Binance as regulators will come hard on them.