The last few weeks have been rough for Facebook’s crypto project. Amid constant regulatory scrutiny, several high profile backers pulled the plug on the social media giant’s crypto project. In an interview with CNBC, when the head of Calibra, David Marcus was asked if he owns any bitcoin or other cryptocurrencies, he replied that he is a fan of the leading cryptocurrency and called it the digital coin.
— Squawk Box (@SquawkCNBC) October 16, 2019
David Marcus further added that Libra serves a different purpose in the market. He said that Libra would work as a low-volatility digital asset to help people better manage their money. As reported earlier, David Marcus said that he still expects to get over 100 banks and financial firms to get on board once they address the regulatory concerns.
The Calibra head asserted that there is still a keen interest in Libra. He claimed that at least 1,600 organizations around the world had expressed an interest in becoming members. Out of which only 80 met the high bar, he added.