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Facebook’s Libra Association Suffers Massive Setback as Major Members Flee

Facebook’s cryptocurrency ambitions through its Libra Association has just seen a massive setback. Specifically, a number of high-profile founding members has just left the Libra Association en masse. Libra Association in crisis as Mastercard, Visa, eBay and Stripe leave Around a week ago, Toshi Times first reported that PayPal was withdrawing from the Libra Association. At the time, some were speculating that this could be the first of many exits…

SWIFT Representative Calls Crypto “Useless and Unstable”

The Society for Worldwide Interbank Financial Telecommunications, SWIFT, recently had some harsh words for crypto. Specifically, representatives from SWIFT have reportedly said that crypto is “useless and unstable”. Nonetheless, this comes as crypto is increasingly challenging SWIFT’s dominance on monetary transfers. SWIFT calls crypto “useless” This news was first covered in an FXStreet report on September 10th. This piece refers to some SWIFT representatives, who wish to remain anonymous, who…

25-Year-Old Might Face Life Sentence After Running Bitcoin Exchange

A 25-year-old Bitcoin seller is now facing a life sentence after running an unofficial Bitcoin exchange. This was officially announced by the United States Justice Department on Friday. Moreover, the Bitcoin seller has supposedly agreed to plead guilty to the charges. Bitcoin seller facing life sentence This 25-year-old comes from Westwood, Los Angeles, and has reportedly exchanged “up to $25 million in cash and crypto without a license and anti-money…

US Federal Reserve Reveals New Real-Time Payment System, Confusing Crypto Bulls

The United States Federal Reserve Board has officially revealed that it will launch a real-time payments settlement service. This initiative is aimed at boosting the payments infrastructure in the nation. Moreover, this comes as banks are increasingly looking to crypto for real-time global payments. The FedNow Service will work 24/7 This news came in an official press release on August 5th. The service will be called the ”FedNow Service”. Moreover,…