Libra, who recently took a major loss, remains confident in its ability to go forward, even if the timetable has been potentially disrupted. Despite no longer having some of the biggest names in banking on their side, there’s still talk of getting up to 100 members in the association and having, though not as high-standing, multiple companies work with them to create this new crypto.
In response to the news of Visa and Mastercard (and others) leaving, a Libra Association board member, David Marcus, released a measured and respectful thanks for companies sticking with them for as long as they did on Twitter. And made a good point that’s certainly applicable to the whole of crypto: that if there’s this much pressure happening around some invention, it’s certainly a sign that the idea is a powerful one.
And that only becomes truer: weeks after the loss, Zuckerberg was recently under the microscope during a hearing regarding Libra (which you can watch by clicking here) where he further had to deal with pushback, though also trying to somewhat disentangle his company from the Libra Association. If the association goes forward without regulation, then Facebook will, apparently, withdraw its support.
Libra’s future is still very much turbulent, and it’ll be curious to see how many hurdles will have to be overcome before it can even exist.
