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NYT Reporter: Facebook Seeking $1 Bln in Venture Capital for Crypto Project


Facebook is reportedly seeking venture capital to support its purported native token project.

Facebook is reportedly seeking support from various venture capital (VC) firms to develop its supposed digital token, New York Times (NYT) tech reporter Nathaniel Popper tweeted on April 8.

Citing sources familiar with the matter, Popper states that Facebook is seeking a $1 billion sum to develop its cryptocurrency project. He states that seeking outside investment could keep the project more in line with the crypto community’s decentralized ethos:

“Given that one of the big allures of blockchain projects is the decentralization, getting outside investors could help Facebook present the project as more decentralized and less controlled by Facebook.”

Popper added that the reported project is a stablecoin that would be pegged to a basket of foreign currencies held in bank accounts.

Rumors of a “Facebook Coin” <a href="https://cointelegraph.com/news/bloomberg-facebook-is-developing-a-cryptocurrency-for-transfers-in-whatsapp"…



Read Full Story : Cointelegraph.com News

2019-04-08 22:35:00

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