Canada markets closed

Libra's co-founder: 'There is a chance' the cryptocurency could present systemic risk: Tech

Wednesday, October 16, 2019

Get Yahoo Finance Tech, a weekly newsletter featuring our original content on the industry, sent directly to your inbox every Wednesday by 4 p.m. ET. Subscribe

WASHINGTON, DC - JULY 16: David Marcus, head of blockchain with Facebook Inc., speaks during a House Financial Services Committee hearing on July 16, 2019 in Washington, DC. (Photo by Sha Hanting/China News Service/Visual China Group via Getty Images)

Libra's co-founder: 'There is a chance' the cryptocurency could present systemic risk: The Facebook executive behind the Libra blockchain project says its developers are designing the cryptocurrency under the assumption that it could grow large enough to present risks to the economy.

“We should assume that there is a chance that this could have systemic risk and design it in a way that it cannot become a systemic risk,” David Marcus, the head of new Facebook subsidiary Calibra, told Yahoo Finance on Tuesday.

Read more

Facebook’s David Marcus: Libra is ‘absolutely not’ in jeopardy

Steven Mnuchin would like some credit for the Facebook Libra exodus

Elizabeth Warren wants to break up big tech. Other candidates aren't so sure

CrowdStrike CEO gives perfect answer on post IPO stock price tumble

Google unveils Pixel 4 and Pixel 4 XL smartphones with enhanced cameras

Google debuts new Pixelbook Go, Pixel Buds, and Nest Mini

An exclusive look inside a leading VC firm backed by Richard Branson

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn,YouTube, and reddit.