Oct 5, 2019
Libra: PayPal first to drop out of Facebook cryptocurrency
Payments firm PayPal has become the first company to pull out of an alliance that is trying to launch Facebook's digital currency Libra. The firm was one of the original members of the Libra Association, a group of 28 companies and non-profits helping to develop Libra. In response to PayPal's withdrawal, Libra Association said it was aware that attempts to "Reconfigure the financial system" would be hard. Facebook said Libra would be independently-managed and backed by real assets, and that paying with it would be as easy as texting. The Libra Association will hold the first meeting of its governing body - the Libra Council - on 14 October.
Make a complaint about Facebook or PayPal by viewing their customer service contacts.