Facebook's cryptocurrency Libra hasn't exactly had a good start,lithub queer eroticism mary oliver with critics pummeling it from all sides since its revealing in June. Most recently, France and Germany said they would block Libra altogether, as they deem that no private entity should attempt to claim monetary power.
But the company (and its Libra partners, which have mostly remained silent since the launch) trudges on. A week ago, Head of Calibra (the wallet for Libra) David Marcus took to Twitter to debunk the notion that Libra threatens the monetary sovereignty of nations.
And on Friday, German outlet Der Spiegelrevealed (via Reuters) that Libra would be backed by a basket of currencies consisting of the U.S. dollar, Euro, Japan yen, British pound, and Singapore dollar. Notably, China's yuan is absent, which addresses concerns of some U.S. politicians who worry that yuan is becoming too strong a reserve currency.
Libra, based on a blockchain platform of the same name, is a special type of currency called a stablecoin. These are typically backed by real-world assets and designed in such a way that their value remains stable compared to those assets. In Libra's particular case, the stablecoin will be backed by fiat currency and short term government bonds.
The breakdown for Libra's backing currencies, which reportedly comes from a Facebook letter sent to German politician Fabio De Masi, is as follows: 50% U.S. dollar, 18 percent euro, 14% Japanese yen, 11% British pound, and 7% Singapore dollar.
The news might soothe some China skeptics, but it's unlikely to fully satisfy European politicians, some of whom seem to be against the very idea of Libra.
Meanwhile, Facebook has remained adamant about its intent to fully comply with regulators' demands before launching Libra.
Topics Facebook Cryptocurrency
Vitality lock in EPL quarter
iPhone 16 Pro Max is reportedly getting big upgrades to wide, ultra
Wordle today: The answer and hints for May 22
Spotify discontinues their weird Car Thing device
SEMPHIS on jeorgesnorts: "It's almost like he's an NA ropz"
NYT's The Mini crossword answers for May 24
Amazon deals of the day: M1 MacBook Air, 75
Amazon deals of the day: Polaroid Hi
arTisT: "Knowing that we can compete against the best is going to do wonders"
Sony headphone deal: Get the ULT Wear headphones $21.99 off
forZe replace GODSENT at Roobet Cup
Are Bored Apes still a thing in 2024? An investigation.
AT&T outage: If your phone says SOS, this might be why
Apple explains why deleted photos were being restored on some iPhones
Ready, Set, Go!
'The Garfield Movie' review: A heist flick with daddy issues
iOS 18 may bring these new emoji to iPhone, including this ‘baggy eyes’ one
Plane turbulence is getting worse. Scientists explain why.
Bringing Asia Home Daily
Leinster vs. Toulouse 2024 livestream: Watch Champions Cup Final for free
Keep your documents on hand with this 1TB flash driveAl Ittihad vs. Al Ahli 2024 livestream: Watch Saudi Pro League for freeNASA’s most unusual astronaut, Frank Borman, has diedNASA reveals its total asteroid haul from ambitious space mission'Over the Garden Wall' turns 10 this year, so there's no better time to rewatch'Janet Planet' review: Annie Baker's motherNASA reveals how spacecraft will land on tantalizing ocean worldNASA rover finds damaged Mars helicopter in the middle of Martian desertHow AI can revolutionize time management for your small businessNASA's new images reveal what happened to its crashed Mars helicopter Danny Elfman transformed Donald Trump's debate stage lurking into a horror film Everyone would *really* like Billy Bush to donate his possible payout to charity Fearless tiny dogs scare away huge bear from their yard Scottish babies will be sleeping in cardboard boxes, too Five Experimental Chrome Settings Worth Enabling This Arabic billboard is massively trolling Donald Trump Girl in Supergirl costume puts all other school pictures to shame The Best Gaming Concept Art of 2016 Amy Schumer 'apologizes' to Florida Trump fans with an open letter A is for alt
0.2553s , 10006.5390625 kb
Copyright © 2025 Powered by 【lithub queer eroticism mary oliver】Facebook's Libra won't be backed by Chinese yuan,Feature Flash
