Facebook executive hits back at “secrecy” claims

In a series of tweets Facebook executive and Calibra head David Marcus hit out at claims that the company kept information from its members on how to tackle crime.

Facebook executive and Calibra head David Marcus has hit out at claims that the company kept information from its members on how to tackle crime. David Marcus in series of tweets hit back at Wall Street Journal for reporting that Libra kept information from members. He wrote that suggesting that the company was not on top of or didn’t share information with its members is categorically untrue and worth calling BS.

WSJ reported that two key members Visa and Mastercard are reconsidering their involvement in the project amid regulatory pushbacks. Facebook and its backers have scheduled to meet on 3rd October to discuss the crypto project in Washington DC.

The company plans to launch the stablecoin next year, but as of now, nothing can be said with certainty as regulators from all over the world are pushing back the project. Earlier, the French finance minister said that they would not authorize the development of Libra on European soil.

Facebook has been under constant scrutiny since the social media giant announced to launch the cryptocurrency. Let us know in the comments what do you think about the crypto project?

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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