Blockchain

Facebook Officially Launches Libra Despite High-Profile Departures

Facebook Officially Launches Libra Despite High-Profile DeparturesFacebook Officially Launches Libra Despite High-Profile Departures

Libra, the highly-scrutinized planned cryptocurrency led by Facebook (NASDAQ:FB), officially launched in Geneva yesterday despite several high-profile defections from the project last week.

Libra Launches With 21 Chartered Members

The Libra Association, the non-profit governing body of the digital currency, officially signed on 21 charter members at a meeting at its Swiss headquarters. The association was originally made up of 27 members; however, the high level of regulatory scrutiny leveled at the project led to several prominent defections in recent weeks. These include Visa (NYSE:V), PayPal (NASDAQ:PYPL), and Mastercard (NYSE:MA), which all jumped ship last week as it emerged that Mark Zuckerberg would defend his plans to launch Libra before a Congressional committee.

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