ADVERTISEMENT
NewsLogical
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
NewsLogical
No Result
View All Result
Home Blockchain

Facebook’s $1billion Crypto Project Fund Might Be Donated By Tim Draper, Other Capitalists

by Khalid Lawal
April 11, 2019
in Blockchain, Cryptocurrency
0
Peter Brandt Says Altcoins are to Bitcoin What Lead is to Gold as BTC Dominates by 70.1%
0
SHARES
58
VIEWS
Share on FacebookShare on Twitter

The stablecoin project Facebook is working on seems to be getting more attention than thought even though the social media giant is still far from launching the coin.

While series of report yesterday claimed that the tech giant is seeking a billion dollars investment fund for its forthcoming stablecoin project, a new report today affirmed that venture capitalist Tim Draper is making plans on meeting Facebook Inc. to investment in the project.

Bloomberg recounted that Draper has interest in the social network’s cryptocurrency project.

“I am interested to hear the story. We will see if it is a fit,” Draper said to Bloomberg News in a mail.

Aside the sexagenarian capitalist Draper, other venture investors and Hedge funds, as well as wealthy individuals also have shown interest in the project, and they will like pour in their fund.

The New York Times on Monday revealed that Facebook is aiming “big sums – as much as $1b” from investors to support its stablecoin project.

A reporter of The New York Times, while disclosing update on the project, also said Facebook would be using the investments as collateral for the stablecoin.

One person I spoke with said that Facebook is talking about using the money as collateral for its cryptocurrency. Facebook has been designing the coin to keep a stable value, pegged to a basket of foreign currencies held in bank accounts.

— Nathaniel Popper (@nathanielpopper) April 8, 2019

After addressing the situation of investment request from outside to support the stablecoin project, observers opined that it as an attempt to display a “more decentralized and less controlled” system since the company is superabundant than being short of cash.

It was revealed in December that Facebook is developing a stablecoin, whose valued will be pegged to the US dollar, for transfer of fund on WhatsApp messaging app, with an initial focus on remittances in India.

Tim Draper continues to show its belief in cryptocurrency. Lately, Draper averred that crypto will undoubtedly replace all fiat currency in the finance industry.

Also, Today’s Gazette reported the bullish stand of the venture capitalist on Bitcoin, where he said the crypto asset trailblazer will surge by 4900% by 2020.

Tags: Bitcoin (BTC) on FacebookFacebook And CoinbaseFacebook blockchainFacebook Blue TickFacebook CoinFacebook Coin $19B RevenueFacebook newsFacebook Stable CoinFacebook To Acquire CoinbaseFacebook To Acquire Coinbase RumourFacebook VerificationMamby.io is Like FacebookTim DraperTim Draper University Qtum
No Result
View All Result

Highlights

Elon Musk Loaded Up In Dogecoin before Pumping Bitcoin – Peter Schiff

Crypto Investor Explains Why Cardano will Soon Topple Ethereum

Cardano’s IOHK Rebrands, Enters Final Stages of a Large Government Contract

Analyst Explains why Bitcoin Price Could Crash to $6,400

Online Search for “Dogecoin” Surpasses “Bitcoin” in United States

PayPal Q4 Earnings Report Shows Users More Active after Buying Cryptocurrencies


NewsLogical Inc. is a U.S.-centric firm established in 2019 with the aim of providing resourceful and up-to-date cryptocurrency and blockchain information.

Email: info@newslogical.com

Read More.

Dislciamer


Contents on NewsLogical.com are only for informational purposes and should not be construed as financial or investment advice.

Trading cryptocurrency is considered a high-risk activity that requires technical knowhow because digital currencies are generally volatile.

Contact financial experts for guidance before making any cryptocurrency investment decision.

Read More.

About us

  • About
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Privacy Policy
  • Team
  • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • XRP News
  • Price Analysis
  • Coin Guide
  • About
    • Team
    • Editorial Policy
    • Privacy Policy
    • Write for Us