Blockchain

Investors Consider Cutting Ties with Facebook’s Libra Amid Regulatory Scrutiny

Investors Consider Cutting Ties with Facebook’s Libra Amid Regulatory ScrutinyInvestors Consider Cutting Ties with Facebook’s Libra Amid Regulatory Scrutiny

At least three investors in Facebook’s Libra cryptocurrency are considering disassociating with the currency following intense regulatory pushback.

According to a report published in the Financial Times on Friday, some backers are fearful that the spotlight placed on the social media giant’s proposed cryptocurrency will also bring their own separate, independent businesses into disrepute. Two founding partners have allegedly held discussions with regard to what the “right next steps” should be for their investment. “I think it’s going to be difficult for partners who want to be seen as in compliance [with their own regulators] to be out there supporting [Libra],” one of the founding partners said.

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