Libra partner drop out

[meliodas]

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.

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[xiboothrezi]

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.

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.

[johnbc]

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.

[The3max]

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.

[bvg96634]

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.

[TriplexXx]

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

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!   

[maxreish]

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.

[Oneandpure]

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.

[plast555]

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.

[mintme.com]

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

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

[judeafante]

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

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.

[sandra_x]

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

[Gotumoot]

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

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

[wxa7115]

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 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.

[Tylev]

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

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.

[huu78]

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.

[forexandcryptoauditor]

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.

[wxa7115]

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.

[prehisto]

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.

[boltz]

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.