Facebook’s Libra Under Heavy Attack in Senate Hearing

Privacy and trust concerns, questions regarding AML and KYC, and Calibra's place of registration were all part of a predominantly hostile Senate hearing: https://chainbulletin.com/facebooks-libra-under-heavy-attack-in-senate-hearing/

All the usual grandstanding by tech inept senators, and avoidance and lies by the guy in the seat. Nothing new here.

But BTC sure did take a nice dive about halfway through the hearings. So at least some good came out of it.

Libra is a joke and I hope the government won't let them use it on their spying platform. BTC will always be king and Facebook is both too late to the crypto party and too insincere in what the true purpose of what Libra really is. As if Facebook really just wants to get their users interested in crypto. I get the feeling someone wants to make bank off their bloated userbase generating it for them and the users will get satoshi-like scraps to play around with, like giving kids pennies.