Has Facebook Libra changed the cryptocurrency outlook?

Reinvent money. Transform the global economy. So people everywhere can live better lives. Facebook’s description of Libra has all of the high-minded self-confidence and overarching ambition you’d expect of the social media behemoth as it offers its own particular cryptocurrency outlook.

In October, politicians on Capitol Hill grilled Mark Zuckerberg about issues including the handling by Facebook of Libra users’ data and the siting of the Libra Association, the organisation that oversees the project, in Switzerland rather than the United States.

These criticisms are set against a background of longstanding concerns about Facebook’s privacy policies and advertising practices. Meanwhile, a number of founding members of the Libra project, including eBay and Mastercard, have deserted it.

Is cryptocurrency outlook on the up?

Criticism of Libra, Facebook’s first foray into cryptocurrencies, has been intense, but it has increased interest in this rapidly developing financial…