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Elizabeth Warren Urges Zuckerberg to Halt Facebook`s Crypto Wallet Novi

Last update 20.10.2021 09:37

Facebook finally launched its crypto wallet Novi, only to be immediately warned by Elizabeth Warren and other senators.

Elizabeth Warren Urges Zuckerberg to Halt Facebook`s Crypto Wallet Novi

Hours after Facebook went live this morning with its digital wallet Novi, Sen. Elizabeth Warren (D-MA) and four other Senators from her party sent a warning shot at the company’s CEO Mark Zuckerberg, demanding that he "immediately discontinue" the program. 

Novi launched a pilot this morning in the U.S. and Guatemala, allowing users there to buy and trade Paxos Dollars (USDP) instantly and with no fees. Coinbase is providing Novi with crypto custody services, and will hold all funds involved with the program. 

Notably, Novi does not incorporate Facebook’s own long-anticipated cryptocurrency Diem. This does not appear to have mollified the group of senators, who also include Brian Schatz (D-HI), Sherrod Brown (D-OH), Richard Blumenthal (D-CT) and Tina Smith (D-MN).

“Facebook cannot be trusted to manage a payment system or digital currency when its existing ability to manage risks and keep consumers safe has proven wholly insufficient," they stated in the letter.

Source : decrypt.co

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Coin Change(%) Price Volume (24h)
Bitcoin (BTC) 3.71 $72,084.86 $45.5B
Ethereum (ETH) 3.43 $4,038.91 $20.8B
XRP (XRP) 18.52 $0.727106 $4.4B
Solana (SOL) 1.58 $147.242060 $3.8B
Binance Coin (BNB) -2.22 $519.52 $3.0B
USD Coin (USDC) 0.03 $0.999697 $2.4B
Dogecoin (DOGE) 0.96 $0.174374 $2.1B
Shiba Inu (SHIB) -2.92 $0.000033 $1.7B
Floki Inu (FLOKI) -7.67 $0.000267 $1.3B
Avalanche (AVAX) 13.16 $47.596296 $1.2B
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