Crypto companies in the Libra Association remain positive about the project – despite the criticism

Aug 28, 2019

Since Facebook announced its plans to release a cryptocurrency named libra in 2020, the project has faced a lot of criticism, not least from politicians and lawmakers worldwide.

Following the criticism, several companies in the Libra Association, a consortium based in Switzerland that is supposed to control the planned cryptocurrency, have been hesitant about the project.

Last week, there were also reports that at least three of libra’s original backers are considering withdrawing.

Now, however, there are new reports that far from everyone in the Libra Association is negative about the libra project.

“We always knew this was something that was going to be hard”, a source close to the Libra Association told Coindesk.

In addition, the source says that many companies that are not yet members of the Libra Association have shown interest in joining.

Crypto companies are positive

A compilation made by Coindesk shows that at least the companies from the crypto industry, such as Coinbase, Xapo, Bison Trails and Anchorage, remain openly positive to the project.

“The team believes in the mission of libra and is proud to be a founding member of the Libra Association. They are confident that the association and its members will work through regulatory concerns and look forward to continued conversations with policymakers”, a spokesperson for custody startup Anchorage wrote to Coindesk.

Andreessen Horowitz and Union Square Venture, the venture capital companies of the Libra Association which are most associated with blockchain investments, also say that they remain positive about the project.

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