Home » Facebook’s currency will be dollar-pegged and Fed-supervised

Facebook’s currency will be dollar-pegged and Fed-supervised

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In the same hours that Elon Musk announced Tesla’s withdrawal from bitcoin payments, the flight forward of the Libra autonomous currency project “made in Facebook” also ended. And prodigal son Mark Zuckerberg was welcomed back to the US after agreeing to pay respect to the old dollar and the Federal Reserve. The Diem-branded stablecoin (as the former Libra was called) will be made but will be pegged to the dollar. It will be launched alongside a Fed-supervised bank and the operation …

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