NYT Reporter: Facebook Seeking $1 Bln in Venture Capital for Crypto Project

Facebook is reportedly seeking support from various venture capital (VC) firms to develop its supposed digital token, New York Times (NYT) tech reporter Nathaniel Popper tweeted on April 8.

Citing sources familiar with the matter, Popper states that Facebook is seeking a $1 billion sum to develop its cryptocurrency project. He states that seeking outside investment could keep the project more in line with the crypto community’s decentralized ethos:

“Given that one of the big allures of blockchain projects is the decentralization,

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From Blanket Ban to Its Own Stablecoin: How Facebook’s Relationship With Crypto Changed Over 2018

On Dec. 20, Bloomberg reported that Facebook is making a stablecoin for WhatsApp users. The cryptocurrency will reportedly be used for money transfers made within the messaging app and will focus on the Indian market.

The move provides a curious juxtaposition for the social media giant, which banned cryptocurrency-related advertising across its network back in January and then partly reversed it in June.

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