Fun

‘Hell No’: Jack Dorsey Says Twitter Won’t Be Joining Libra Association

News Feed - 2019-10-25 05:10:19

Twitter will not be joining the Libra Association, according to CEO Jack Dorsey.


Dorsey replied with an conclusive “Hell no” to the question of its potential membership of the Fcebook-led crypto payments scheme at a New York City-based Twitter event, The Verge reported Thursday.


He explained that Libra is not based on an open standard, “born on the internet,” and as such: “It was born out of a company’s intention, and it’s not consistent with what I personally believe and what I want our company to stand for.”


Dorsey further argued that Libra didn’t have to be built around a cryptocurrency to fulfill its purpose.


A noted bitcoin and lightning network advocate, Dorsey launched Square Crypto earlier this year for open development on the bitcoin network. In August, Square Crypto hired bitcoin developer Matt Corallo followed by three other dev hires in September from Facebook, Lightning Labs, and Google.


At the New York event, Dorsey also responded to Facebook CEO Mark Zuckerberg’s testimony before the U.S. House Financial Service Committee on Wednesday, according to tweets from The Hollywood Reporter journalist Alex Weprin.


“A lot of it seemed to be based in American tradition,” Dorsey said. “I fear that if we base too much in this one concept, we take away the ability to experiment and expand.”


Dorsey added: “We are not just serving an American audience, we are serving a global audience … The internet is somewhat of an emerging nation-state.”


In his hearing, Zuckerberg notably said Facebook would be compelled to leave the Libra Association if the project went live before meeting regulatory requirements. The Libra Association is still seeking some 80 additional members before the expected mid-to-late 2020 launch, according to a Libra representative speaking with CoinDesk earlier this month.


Jack Dorsey image via CoinDesk archives

News Feed

Ray Salmond3 hours agoBitcoin short-term holders capitulate as data highlights potential generational buying opportunityBitcoin’s current price action leaves much to be desired, but multiple indicators point to what co
Biggest Movers: ETC Biggest Gainer in Top 30 on Thursday, ZEC Also Rises
Biggest Movers: ETC Biggest Gainer in Top 30 on Thursday, ZEC Also Rises Ethereum classic was easily the biggest gainer in the top 30 on Thursday, as the global crypto market was t
South Korean Gaming Giant Planning to Buy Crypto Exchange Bithumb for $460 Million
South Korean Gaming Giant Planning to Buy Crypto Exchange Bithumb for $460 Million Nexon, the South Korean multi-billion-dollar gaming conglomerate, is reportedl
Biggest Movers: LTC Hits Highest Point Since June, as APE Climbs to 3-Week High
Biggest Movers: LTC Hits Highest Point Since June, as APE Climbs to 3-Week High Litecoin rose to a three-month high in today’s session, following a breakout of a key resista
Reddit Reportedly Testing NFT Profile Pic Functionality
Reddit Reportedly Testing NFT Profile Pic Functionality Reddit, one of the largest micro-posting sites on the internet, is reportedly venturing further into the world of non-fungib
Japanese Regulator Slaps FTX Japan With Business Suspension Order
Japanese Regulator Slaps FTX Japan With Business Suspension Order Japan’s top financial regulator, the Financial Services Agency (FSA), has issued a business suspension order
Human Rights Foundation’s Alex Gladstein Calls Bitcoin ‘An Escape Hatch From Tyranny’
Human Rights Foundation"s Alex Gladstein Calls Bitcoin "An Escape Hatch From Tyranny" The Human Rights Foundation (HRF)’s Alex Gladstein has heaped praise
David Attlee13 hours agoAverage value of undeclared crypto in Japan dropped 19% in 2022The number of tax evasion cases featuring crypto assets rose 35% in 2022.11094 Total views7 Total sharesListen to article 0:00NewsJoi
William Suberg1 hour agoBitcoin difficulty jumps 6% to new peak as miners ignore BTC price dipBTC price action is causing some to panic, but Bitcoin miner confidence in the network is there for all to see.1049 Total view
Tornado Cash Governance Token TORN Shudders More Than 57% Since the US Government Ban
Tornado Cash Governance Token TORN Shudders More Than 57% Since the US Government Ban Amid the crackdown against Tornado Cash, associated addresses, contributing developers, and an
Zhiyuan Sun8 hours agoBankrupt CeFi firm Haru Invest hints at asset recoveryNo specific timeline was given as to when users can receive their money back.1498 Total views8 Total sharesListen to article 0:00NewsJoin us on
Trading on crypto exchanges fell for 3rd month straight in June: CCData
Tom Mitchelhill7 hours agoTrading on crypto exchanges fell for 3rd month straight in June: CCDataCombined spot and derivatives volumes on centralized crypto exchanges fell 21.8% in June as crypto exchanges continued to t