NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Libra Crypto Crumbles as Facebook Launches Alternative Payments Platform

Martin Young
Martin Young
5 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Most of the angst against the crypto industry this year has been instigated by one company. The major economies of the world have collectively given the bird to Facebook and its plans on crypto domination through its own centralized digital coin. The social media giant is now scrambling to launch an alternative payments platform.

Facebook Pay, Not Crypto

It was clear from the start; Facebook’s crypto ambitions were way too lofty considering its appalling track record. The simple lack of trust for the social media giant was enough for regulators and bankers across the globe to slam its Libra crypto project.

The result was a mass exodus of Libra Association partners including the payments heavyweights on which the company hinged its plans. Today Libra barely makes the news as the company appears to have moved on by launching an alternative payments platform.

According to a company blog post, Facebook Pay will be launched this week, starting in the US. The platform claims to provide people with a ‘convenient, secure and consistent payment experience’ across Facebook, Messenger, Instagram and WhatsApp.

On first glance the Facebook Pay app is no different to PayPal or Alipay or any of the hundreds of payment apps out there. Users need to enable the app, when it gets rolled out to the masses, add a payment method which is usually a credit card, and use it to send or receive dollar payments.

There is no crypto currency or blockchain involved and the company included the reminder that this is not Libra;

“Facebook Pay is built on existing financial infrastructure and partnerships, and is separate from the Calibra wallet which will run on the Libra network.”

General Consul at Compound Finance, Jake Chervinsky, noted;

“Facebook Pay sounds an awful lot like an admission that Libra is dead in the water.”

The press release mentioned the words secure and security no less than seven times so it is clear that they know this is a major concern for Facebook users. The bottom line is that if the platform cannot be trusted with data, it shouldn’t be trusted with money whether it is crypto or any other payments platform.

China The New Threat

According to billionaire Zuckerberg, Libra is not the threat anyway. In his opinion, China’s proposed crypto yuan launch will do more damage to global finances and dollar domination.

According to MarketWatch the real challenge for US regulators is the imminent rise of a Chinese crypto currency which could undermine overall dollar dominance. This in addition to the fact that the FED is printing them unashamedly, and president Trump wants to devalue them even further, is another nail in the greenback coffin.

CNBC recently reported that China’s new Digital Currency Electronic Payment, or DCEP, could be launched within a few of months adding further fuel to the financial fire.

Image from Shutterstock
Tweet123Share196ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

比特幣突破12萬美元上望20萬 值得關注5種可能突然上漲100倍山寨幣

隨著七月第三週展開,加密貨幣市場迎來了技術形態突破與敘事轉換的關鍵時刻。比特幣延續突破勢頭,今日突破12萬美元大關,市場信心持續累積;而與此同時,一系列加密資產也開始呈現結構性機會。其中,XRP、So...

Mark Mak 5 hours ago

加密周引爆比特幣與山寨幣牛市狂潮 TOKEN6900強勢飆升中!

美國國會迎來「加密周」,比特幣衝刺關鍵12.5萬美元關口,山寨幣全面爆發,梗幣明星 TOKEN6900(T6900) 狂慶50萬美元里程碑! 目前T6900預售價僅為 $0.006575,或將成為下一...

estherw 6 hours ago
Bitcoin Hits $123K, But Market Euphoria Has Yet to Kick In, Says Analyst

Bitcoin Hits $123K, But Market Euphoria Has Yet to Kick In, Says Analyst

Bitcoin has reached new milestones this week, briefly breaking above the $123,000 mark earlier today before retracing slightly to $121,812...

Samuel Edyme 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

memecoins, crypto, trump, memecoin

Top Crypto Exchanges Made $172 Million From TRUMP Memecoin Listing – Report

Rubmar Garcia 46 minutes ago
Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Samuel Edyme 2 hours ago

【全新升級】Bitunix整合TradingView圖表系統 打造移動裝置專業加密交易 

Peter Chow 4 hours ago

Premium Sponsors

Press Releases

  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    Aceste 3 monede sub 5 lei ar putea transforma o investiție...

    13 minutes ago
  • How XRP Users Can Make $1 Million from $100 in No Time at...

    5 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    10 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    11 hours ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.