27 Libra Partners Pressured To Dump Facebook’s Crypto By Activists

It seems like everyone is trying to kill Facebook’s over-hyped Libra crypto project. In the coming altcoin news, we can see that 27 Libra partners are being pressured by four liberal activist groups which penned an open letter urging all of them to dump the Facebook cryptocurrency.

After being bashed by the president Donald Trump and the US Congress, the Libra stablecoin which was expected to launch soon has hit a new roadblock. The foursome, as explained above, cited their fears over the social media monopoly and its feckless leadership. In a letter, they urged 27 Libra partners to dump the Facebook cryptocurrency.

The four groups of liberal activists include the following:

• Open Markets Institute, a think tank that opposes corporate monopolies
• Public Citizen, a left-wing consumer-rights organization
• Demand Progress Education Fund, an internet activist group
• Revolving Door Project, an anti-Trump Democratic consortium

As their fiery missive shows, the quartet warned the 27 Libra partners to withdraw from the crypto initiative. Specifically, they noted that Facebook cannot be trusted and is trying to monopolize the budding digital money industry.

More specifically, the latest cryptocurrency news show that activists state that Facebook wants to control the market – rather than use Libra to democratize financial services. The group says that Facebook is trying to fool the public with this and urges the 27 Libra partners to re-think their decision. As the letter states:

“Facebook is eager to present itself as just one voice of many in the Libra Association. No one is fooled by this subterfuge. There’s a reason that Congressional committees are seeking answers from Facebook officials.”

In reality, Open Markets, Public Citizen, Demand Progress Education Fund and the Revolving Door Project say that Facebook merely wants to promote its own market dominance.“Achieving a laudable goal should not be cheapened with a project whose aims are in fact unclear and whose leadership structure is based on fear,” the letter featured on many best cryptocurrency news sites reads.

The quartet urged all 27 Libra partners to withdraw from the project before they become accomplices in what they describe a “sinister scheme led by Zuckerberg.”

“We understand that Facebook is a powerful company and that it has in part generated a climate of fear with its market dominance. But if you collectively withdraw from the project, it will signal that the just-beginning era of digital money will be based on fair rules and democratic deliberation and not intimidation by the powerful,” the letter concludes.