PayPal refused to help Zuckerberg with the Libra cryptocurrency

PayPal has announced its withdrawal from Facebook's Libra cryptocurrency project, Bloomberg writes , citing a company statement. It says that the service wants to focus on its own tasks. Most likely, the real reason is the claims of American and European regulators to Libra, writes Bloomberg. This could be a big blow to Libra: a number of PayPal employees were involved in the development of the cryptocurrency. Other financial partners are also thinking about refusing to support the project, in particular, Visa and Mastercard.

• In Libra itself, the withdrawal from the PayPal project was confirmed, noting that everyone initially understood that the project would not be simple, and each of its participants must make a decision for himself, weighing all the risks and benefits.
• Up to this point, Libra had 28 partners, including not only payment services, but also Uber, Lyft and Spotify. Before the end of this month, they need to decide on their final attitude to the project - so far they have signed only non-binding letters of intent.
• This week it became known that two more key partners of Facebook in the launch of cryptocurrency - Visa and Mastercard - doubt further participation in the project. Payment systems refused to publicly support Libra after claims from the US and the EU. But no official comments from the companies have been received yet.
• The US Congress held hearings in July with the participation of the head of Facebook's blockchain division, David Marcus. There, companies recalled past mistakes. Donald Trump also spoke negatively about Libra. He believes that “unregulated crypto assets contribute to crime, including drug trafficking.”