Mark Zuckerberg has another answer to bitcoin. It is called Diem3 min read 22 Dec 2020, 01:01 PM IST
No one should underestimate Zuckerberg’s determination to launch this product. In the face of widespread criticism, not only is he coming back for more, but his top financial-services executive David Marcus is asking for ‘the benefit of the doubt’ from regulators
Last year’s backlash against Facebook Inc.’s planned digital currency Libra would have been most CEOs’ worst nightmare. Governments and regulators linked arms to repel a perceived threat to monetary sovereignty, financial stability and data privacy. The more Mark Zuckerberg tried to reassure politicians by talking up financial inclusion and innovation, the more he came across like a tobacco boss denying cigarettes are addictive. He even acknowledged the problem: “I get that I’m not the ideal messenger for this."
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