PayPal withdraws support for Facebook’s Libra cryptocurrency

Illustration by William Joel / The Verge PayPal has decided to withdraw from the Libra Association, the 28-member nonprofit organization formed in June 2019 to oversee the cryptocurrency’s creation and eventual consumer rollout.The company doesn’t cite a specific reason, saying only in a statement to The Verge that it decided “to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities