Libra partner drop out

[notblox1]

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.

[crossabdd]

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.

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.

[randegibran]

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.

[Kemarit]

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.

[TrevorS]

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.

[DU18]

I think the main influence is why many famous partners left the Lybra project because they were afraid of competition, especially financial systems such as Visa, Mastercard, eBay, Paypal. on the other hand there is a lot of FUD news about Lybra coins and maybe someone is starting to lose faith in these Lybra coins.

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.

[lionheart78]

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.

[Bezobraznike]

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.

[dfktynby1004]

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.

[JeffBrad12]

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.

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.

[jossiel]

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

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.

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.

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/

[wxa7115]

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 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.

[tranduong123]

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

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.

[DaveWave]

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

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?

[NathanJB]

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 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.

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.

[Zeke_23]

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 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.

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.

[Cakalasia]

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 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.

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 .

[NathanJB]

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 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.

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.

[shadowdio]

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.

[airdnasxela]

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