Tensions Rising at Facebook Libra as Backers Consider Quitting: Report - CoinDesk

The regulators might be having an impact in their fight against the Libra.

According to a report, several unnamed companies that are backing the project are thinking of pulling out because of the backlash from regulators around the globe. They do not want to be linked to a project that is so out of favor with those who have the ability to instill rules over them.

Many fear that the Libra will take down fiat currency and render the central banking system useless. This has led to fear not only from government types but also those who are concerned about Facebook's track record with privacy and abuse of its users.

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