PayPal on the brink of leaving Facebook’s Libra project - Report

Payments giant PayPal, one of 28 members of the Facebook-led Libra stablecoin project, is on the verge of quitting the project.

The Financial Times reported the news Thursday, saying that PayPal did not attend a key meeting in Washington to discuss how Libra would address increasing opposition from global regulators.

PayPal was the only member firm not present at the meeting, "people familiar with the event,” told the FT.

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

The payments giant is reportedly concerned that Facebook has not done enough to address rising scrutiny, especially r