Facebook’s Libra currency battered by defections, pushback
By Barbarya Ortutay | AP
October 12, 2019 at 8:04 AM EDT
Facebook faces a rough road ahead with Libra, but defections by high-profile partners are still unlikely to spell the end for the digital currency.
On Friday, Visa and MasterCard announced their departures from the Libra project, as did e-commerce giant eBay and payments startup Stripe. Last week, PayPal became the first major company to drop out of Libra.
The exodus comes amid growing — not to mention stronger-than-anticipated — regulatory pushback against Libra in the U.S. and elsewhere.
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