Crypto

What Facebook's Libra coin means for privacy

Facebook announced Libra in June after months of speculation and since then, it’s faced nothing but backlash and questions from regulators and the public over its plans. Libra is a cryptocurrency that is being launched by Facebook as an attempt to re-invent Bitcoin — a similar, but older type of currency. The main differences are that Libra will be much faster to confirm transactions, have lower fees and that it will be backed by multiple currencies — allowing it to maintain a stable value, whereas Bitcoin’s value can fluctuate greatly.

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Facebook's new cryptocurrency, Libra, explained

Facebook's new cryptocurrency, Libra, explained

This week Facebook finally took the wraps off Libra, its new cryptocurrency, that will allow users to buy things online, send money with minimal fees and eventually, interact with offline businesses. It’s a digital cryptocurrency, but unlike Bitcoin, it can’t be mined and will remain at relatively the same value — making it prime to be used as a currency in countries where banks aren’t common.

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The SEC is suing Kik over its crypto ICO

Kik Interactive is being sued by the US Securities and Exchange Commission over its 2017 initial coin offering that raised $100 million in what the agency says is unregistered securities. $55 million was raised from US investors, according to the SEC statement released this week, which alleges that the one trillion tokens sold count as a security and therefore, should have been registered with the government.

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