Facebook’s Crypto Project Gets Big Support

Facebook plans to reveal their crypto plans next week and now they count a group of impressive backers to support the effort; Visa Inc., Mastercard Inc., PayPal and Uber have all agreed to provide $10mn to help govern the coin in a consortium; Facebook declined to comment but will soon release their plans and still have talks ongoing with additional partners; Libra, as the project is named, will be pegged to government issued currencies to avoid issues that have hurt other cryptocurrencies with significant volatility in price. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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