The market has begun to recover as Bitcoin and a majority of the altcoins are trading in the green zone. However, trouble for LIBRA keeps piling up.
The CEO of Calibra David Marcus had to deal with remarks from the House. One member even poked fun at “Zuckbucks”. Mark must be feeling a tad bit infuriated as of now.
Marcus had a meeting with the Senate Committee on Banking, Housing, and Urban Affairs this Tuesday. Some have attributed the bearish pressure in the market for the last few days to be a result of the negativity surrounding LIBRA.
Bitcoin has always been a variable asset, as the value keeps changing. Some like John McAfee seem to believe a massive bet is worth it:
The U.S. cannot even ban weed – after 70 years of trying. How can a country ban the use of privacy coins like Monero or Apollo, when used on truly distributed exchanges. Banning the invisible, used by the anonymous. Wake up world! Crypto is the mythical Pandora’s box come to life
— John McAfee (@officialmcafee) July 16, 2019
The low achieved by Bitcoin was at $9,050. However, it seems that the king coin and the rest of the market is back on track.
Brad Sherman was particularly critical of Mark Zuckerberg. He spoke of how LIBRA might help drug dealers and all sorts of criminals have total privacy. He stated, “Problem number one, Zuckerberg can’t print money, yet. Problem number two. Zuckerberg is under attack because he invades the privacy of ordinary Americans…”
In 2018, a hearing was conducted wherein Mark was thoroughly questioned, albeit by dysfunctional madmen. Michael San Nicolas fired back at David Marcus, talking about the involvement of “Visa, Mastercard—all these huge players”.
Many lawmakers have referred to the rapid growth of LIBRA. By the next year, it is expected to have more than 70 corporations funding the project. These individuals believe this to be a matter of dire concern, and so do hundreds in the cryptosphere.