Vodafone, Visa, PayPal, MasterCard, Uber, Andreessen Horowitz etc. invested about one billion USD into Facebook’s Libra project in 2020, the stablecoin project which is now almost dead and planned for sale. The investment amount would have increased 4x if they just have bought Bitcoin instead.
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It has been over 3 years after Facebook’s announcement of the plans to launch their own stablecoin project Libra which has gathered more that a billion USD from various well known companies and institutions as well. So, for now the project is almost abandoned and dead as per bloomberg. “Meta” recently announced that they are planning to sell the project.
Obviously, this is a clear example why you should avoid VC funded decentralized projects with CEO, CFOs. All those schemes are vulnerable to regulatory annihilation or chief executive rug pull.
This is why El Salvador is bitcoin only!
submitted by /u/Techvarius
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