Cryptocurrency

09/04/19 04:00 UTC-4

$1 billion investment for Facebook stable cryptocurrency

Facebook is going to attract $1 billion investment for its cryptocurrency
Facebook is going to attract $1 billion investment for its cryptocurrency

On April 9, it was reported that the Facebook social networking giant is going to raise $ 1 billion to support (or pledge) its stable cryptocurrency. Nathaniel Popper, the author of books about Bitcoin and the journalist of The New York Times told about it on Twitter.

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Facebook attracts investments for its cryptocurrency

Today, Nathaniel Popper, a well-known Bitcoin enthusiast and journalist, revealed that Facebook is going to attract $ 1 billion in venture capital investments. The money is needed to support the stable cryptocurrency rate that the company intends to issue.

"(...) Facebook is looking for opportunities for venture capital firms to invest in Facebook's cryptocurrency project, which we reported earlier this year. I heard that they target large sums – up to $ 1 billion", – Nathaniel Popper, Twitter.

The journalist noted that most likely the company needs a lot of money to ensure a stable course for its stable-coin, as well as for the trust of customers.

Most likely the coin will be tied to the company's bank accounts. There is also information that investments can be used as a "mortgage start" for a crypto-asset. Now there are no official statements from the Facebook company.

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$1 billion investment is going to attract Facebook for a stable cryptocurrency. Recall that earlier Facebook director Mark Zuckerberg reported that blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
is a promising innovation for social networks. Our editorial staff also wrote that support for Facebook cryptocurrency will be guaranteed by all financial resources in the company's accounts and will be intended for users of the WhatsApp service. Now, the company is looking for a lawyer who has experience with the blockchain to "legitimize" the new stable-coin.

Editor: Alyona Nabok

See also: "Dogecoin cryptocurrency unexpectedly fell by more than 13% per day"

#WhatsApp #stablecoin #cryptocurrency #Facebook #NathanielPopper #Facebookcryptocurrency

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