Haters are the only thing Facebook’s Libra stands to lose
Seven members of Libra’s governing association have quit, but detractors are still worried, as they should be
When Facebook announced Libra in June, one indicator of how powerful and disruptive the currency could be was just how many people hated it.
The answer, from central bankers to regulators to politicians to privacy campaigners and crypto-competitors, was more or less everyone.
Some hated it because it would be run by Facebook (though Facebook promised it wouldn’t be). Others hated it because, on the contrary, it would bypass any central authority altogether...