Facebook unveils Libra whitepaper – June 18

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Current Bitcoin Price$9052

Both Bitcoin and Ethereum have fallen by about one percent today, but Bitcoin is still holding support just above $9000. XRP is up 1%, while most altcoins are down 1-3% for a market average of negative 1.16%.

Top Stories for 18th June 2019 🔥

👉 Facebook unveils Libra whitepaper

We’ve heard plenty of rumors about the Libra — Facebook’s proprietary cryptocurrency — over recent weeks. It was hoped that by the end of this month, Facebook would make an official statement regarding the project.

Today, the Libra whitepaper was revealed, announcing new details about the project. The coin is set to be backed by real assets and will launch within the next year.

👉 French Finance Minister has doubts about Libra

Facebook doesn’t have the best reputation for privacy. It’s no surprise, then, that many are sceptical about Facebook’s intentions with its new proprietary cryptocurrency.

France’s Finance Minister, Bruno Le Maire, has already expressed doubts about the Libra. He says the government has to “make sure that there is no risk for the consumer”, and hopes to receive a guarantee from Facebook that the coin will not be used for illegal activities.

👉 Ripple partners with MoneyGram

MoneyGram is a 79 year-old money transfer service, similar in principle to Western Union. Recently, Ripple invested $50 million into the company at a significant premium.

A condition of the investment was the MoneyGram will use XRP and the xRapid protocol to settle transactions.