Discover and read the best of Twitter Threads about #LibraInDC

Most recents (8)

.@repfranklucas makes the obvious point that one of the issue with people being "underbanked" is lack of institutional trust. He asks Zuck why people who are distrustful of banks would trust FB. Zuck - in contradiction of earlier media statements - basically says people trust FB.
@RepFrankLucas .@RepGregoryMeeks asks Zuckerberg if FB has worked with any minority-development depository institutions, given that he cares about the "unbanked" so much.

Zuckerberg admits he has no idea if FB has done this.

#ZuckBuck #BigTechTakeover
@RepFrankLucas @RepGregoryMeeks #Libra does not offer bank accounts.

#Libra does not offer bank accounts.

#Libra does not offer bank accounts.

#Libra does not offer bank accounts.

Stop it.

#ZuckBuck #BigTechTakeover
Read 96 tweets
Today, the House Financial Services Committee is holding a hearing with Facebook CEO Mark Zuckerberg.

You can watch yourself at: financialservices.house.gov/calendar/event…

We will be clipping videos from the hearing in this thread. 👇👇👇
HUD "filed an official charge of discrimination against @Facebook for its advertising practices... I understand that Facebook has refused to comply with HUD's fair housing investigation" --@RepMaxineWaters #FacebookHearing
@facebook @RepMaxineWaters “Last year, Facebook banned all cryptocurrency ads on its platform” saying it was misleading and deceptive. “Then earlier this year, Facebook rolled back the ban, and bought a blockchain company, and launched your own currency.” —@RepMaxineWaters #ZuckBuck #BigTechTakeover
Read 16 tweets
Good morning folks. @facebook's Mark Zuckerberg is testifying before @FSCDems / @FinancialCmte today to advocate for @Libra_, among other things. Kick-off is in 30 minutes, I'll be live-tweeting, and my thread starts here: #LibraInDC
@facebook @FSCDems @FinancialCmte @Libra_ Zuckerberg's opening testimony defending @Libra_ was published yesterday: "I'm sure people wish it was anyone but @facebook putting this idea forward." coindesk.com/what-to-expect… #LibraInDC
Read 300 tweets
Good morning, I will be watching today’s House Financial Services hearing with Mark Zuckerberg at 10am EST today.

Follow for live tweets if you’re interested.

Livestream: financialservices.house.gov/calendar/event…
Almost ready folks. #FacebookHearing
One last chat with the handlers and lawyers #FacebookHearing
Read 21 tweets
1/ One of the great privileges I have when putting #MassiveAdoption together is meeting #Bitcoin #blockchain #crypto enterpreneurs across the country building ways away from SF/NY.

So I'm going to do a state-by-state series highlighting them.

(investors, pay attention)
2/ This is just a couple of companies to get us started. I'd love all of you to add your own picks & to tag folks in this state who are building around Bitcoin or on Bitcoin, crypto and blockchains. Let's shine some light inside the U.S., not just on the coasts.

#MassiveAdoption
3/ We start with #NorthCarolina to honor one of the stars of #Libra #LibraInDC day, Representative Patrick McHenry.

Bitcoin & blockchain aren't the first thing that come to mind when you think of NC, but you'd miss out on a lot, so let's get started.
Read 11 tweets
Good morning Washington. I'm back for Day 2 of the #Libra hearings: the @FSCDems/@FinancialCmte edition. @davidmarcus will be on deck for the second round in 15 minutes. Here's a preview of what we might expect from our other witnesses: coindesk.com/facebooks-libr… #LibraInDC
"Today we’re here for a hearing on Facebook’s proposed digital currency, libra, and its wallet, calibra, and its impact on the financial system," says @MaxineWaters, kicking off today's #LibraInDC hearing
Read 174 tweets
The #LibrainDC hearing confirmed that Facebook isn't telling the whole truth - again.

For 2 hours straight, David Marcus avoided questions on Calibra’s privacy terms, sneaking in small words/phrases to prepare loopholes that'll let Facebook monetise payment data in the future👇
Toomey: "Is it the plan to, at some point in the foreseeable future, seek the consent of the participants [of Calibra] so that you would be able to commercialise that data somehow?" [...]

Marcus: "I can’t think of any reason 👉 right now 👈 for us to do this."
Kennedy: Is there any data Facebook wouldn’t monetise?

Marcus: It’s not about making money.

K: Money is a secondary concern at Facebook?

M: The way we’ve done it with messaging apps, without monetising them 👉yet👈, is a testament to what we can do to lower cost for people.
Read 8 tweets
Good morning folks. I'm in Washington D.C., where @SenateBanking/@BankingGOP are about to question @davidmarcus about @facebook's @Libra_ project (coindesk.com/facebook-prepa…). Thread starts here: #LibraInDC
You can follow the hearing yourself at the stream at this link: banking.senate.gov/hearings/exami… #LibraInDC
Banking Cmte Chair Sen. @MikeCrapo is kicking things off, noting that he and Ranking Member @SenSherrodBrown have been asking about Libra since May (focus on credit info/personal data) coindesk.com/us-senators-se… #LibtraInDC
Read 105 tweets

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