Cryptocurrencies
Crypto Chiefs Novogratz, Allaire Say Facebook’s Coin Is a Bullish Sign
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The digital coin introduced by Facebook Inc. is not competition for Bitcoin; it’s proof that cryptocurrencies will play a valid role in today’s economy.
That’s the view of some of the biggest names in the crypto industry. The heads of investment firms, trading companies and technology outfits say Libra, the token Facebook is developing in partnership with the likes of Visa Inc. and Uber Technologies Inc., is a boon for Bitcoin and the broader crypto sector, although some say they’re nervous about whether Facebook will have access to financial data and how that will be regulated.