brypto

I worked a bit on Libra/Diem to support the consortium and thought it was a big step in the right direction. Payments are a mess. Was told the regulators shut Libra down.

Didn’t realize sitting U.S. Senators directly threatened @davidmarcus and his team..

Here's the receipt of another dimension of the Libra kill job. Letters sent to all regulated entities that were members of the Libra Association. Stripe, Mastercard and Visa received this. Pay attention to the highlighted section threatening scrutiny on their entire business. https://t.co/fShSqVIQFW

David Marcus

Co-founder & CEO of Lightspark, a Bitcoin focused company.

I worked a bit on Libra/Diem to support the consortium and thought it was a big step in the right direction. Payments are a mess. Was told the regulators shut Libra down.

Didn’t realize sitting U.S. Senators directly threatened @davidmarcus and his team..

https://x.com/davidmarcus/status/1862867849988944361

👨‍💻 /uno and /outside, @unofficial

Move felt very understandable and easy to use. It ticked all the right boxes for building for the future. Rust, proof of authority, and the great staff engineering-led teams coordinating together.

I could see us playing well and having the same goal. It didn’t seem risky. Then Visa, PayPal, Stripe, and eBay left..

Also what makes this funny is that Libra wasn’t a decentralized blockchain like Ethereum or Bitcoin.. it was a distributed ledger.

So why kill this?

I notice now that PayPal actually left a few days before this letter was dated. What did PayPal know?

This story is a classic tech drama but was oddly never investigated. I hope David can lead the conversation so all the pieces get put out there. I’m still super curious.