The Libra project failed or is it just beginning?

I closely follow the Libra project. Very mixed news on this project. At first, Libra was unanimously supported by all significant business giants, such as Visa or MasterCard. But then, when the government took up arms against Libra, news began to appear that the project partners were abandoning it one by one. What could it mean? Can they really be afraid of the consequences?

The BBC television channel, citing its own sources, reported that in addition to Facebook, none of the Libra Association members contributed $ 10 million to the Association's fund.
Representatives of one of the companies told the BBC that the General Assembly of the Association was held last week, but this issue was not raised either. The company is ready to make investments as soon as necessary.

“Instead of collecting a lot of money from many companies and then pondering what to do with them ... We need to first formulate, discuss and ratify the budget, then agree on a fundraiser. This is the right way, ”the sources said.

Interestingly, according to a representative of one of the companies, Facebook itself is trying to distance itself from the Libra Association. This is due to the constant pressure of regulators and legislators on the project and the social network.

Already today, Facebook founder Mark Zuckerberg should speak to US lawmakers on the House of Representatives Financial Services Committee.

Source

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