What’s Next for Libra?

Facebook’s proposed new digital cryptocurrency, Libra, made quite a splash when it was first announced earlier this year. But now it seems to be falling apart at the seams. 

Libra initially looked like it had some clout because it had several large, established financial institutions on board as partners. But last week Libra lost a lot of its muscle as Mastercard, Visa, and eBay all dropped out of the coalition, leaving Libra shorn of many of its attractive partners. 

The companies that dropped out indicated they could rejoin the consortium at a later date, but it seems they were a bit scared off by the very loud concerns voiced by various lawmakers and regulatory bodies. 

Libra seems to be already living on borrowed time; we’ll see if it can make a stunning comeback.