According to a BBC report, Facebook’s partners have yet to put any money into the social media giant’s crypto project. Mark Zuckerberg is scheduled to testify in front of Congress today. As reported earlier, he plans to tell the lawmakers that Facebook won’t control Libra and other things.
BBC reported that Facebook has said its influence is restricted as the other 20 members have an equal say over its actions. Earlier this month, Libra Association held its inaugural meeting in Switzerland this month and elected five board members.
This month was tough on Libra as its major backers pulled out from the project, including Mastercard, Paypal, Visa, and eBay. Libra is scheduled to launch next year, but with the regulatory scrutiny surrounding, the launch is expected to delay.
