US social media users unlikely to use Libra, survey shows

U.S. social media users say they are unlikely to use Facebook’s cryptocurrency Libra, according to the research by financial services company Jefferies. More than 600 people have taken part in the survey, and four in five respondents said they were “Unlikely” or “Very unlikely” to buy the cryptocurrency.

The survey respondents have pointed towards a lack of trust in the social media giant as their biggest concern regarding Libra (45%) despite the fact that Facebook will not have access to consumer transaction data. Almost 40% also indicated they already have a mobile payment wallet, and saw no reason for using the Libra wallet.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy