Why so many companies bailed on Facebook’s Libra project at once

Image: Facebook When Libra launched on June 18th, it seemed like an alarming new front in Facebook’s megalomaniacal expansion. Having captured billions of users and tens of billions of dollars in annual profits, the company would now be taking over currency itself. The company’s head of blockchain, David Marcus, laid out his plan for Libra in a detailed white paper, with some of the financial world’s most powerful companies already signed on to help govern the new currency as