Posted 2 years ago | by Ben Armstrong

Anthony Pomplaino, the co-founder and co-partner of Morgan Creek Digital, was on the Squawk Box on CNBC on Monday morning. Pomplaino discussed Facebook's Libra project, the social media's cryptocurrency project.

Over the weekend, there were more companies who withdrew from the Libra Association membership. MasterCard, Visa, Ebay, and Stripe and Mercado Page joined PayPal in withdrawing from Libra.

Letter sent by two senators to these companies with strong phrasing that indicated if the companies didn't withdraw from Libra, the Senators would come after those companies. "The sad part is that this [action]" Pomplaino said on Squawk Box, "essentially kicks out American companies."

This significant exit comes as two huge dates loom for the Libra Association. The first date is October 14 which is the first official day Libra Association members will meet officially in Geneva. The second date is October 23, when Facebook's Mark Zuckerberg will testify before Congress on behalf of Libra Association.

Libra has faced a lot of criticism as Congress and World Leaders apply pressure with their concerns. Those concerns include Facebook user safety and privacy. Facebook's 2.7  Billion users would have access to Libra; concerns have been raised about financial risks, money laundering and more.

 

 

About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g Squawk Box Discusses Facebook's LibraBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of BitBoyCrypto.com. Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at BitBoy@BitBoyCrypto.com or contact him on Twitter @BitBoy_Crypto.