Facebook sent the world into a frenzy when it announced its intention to enter the payments space with the launch of its controversial ‘cryptocurrency‘ Libra earlier this year. Initially, Facebook said it had garnered support from 28 companies, including some of the world’s top financial and technology giants. But, as soon as regulators and central banks caught wind of Facebook‘s plans they began to issue warnings and air concerns about Libra‘s potential effect on the world’s financial system; spooking several of the company‘s backers along the way.

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