‘Facebook is already too big. Facebook is already too powerful.’ — Sen. Sherrod Brown is calling out Facebook’s planned cryptocurrency as an alarming and dangerous power grab.
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In US news and business news, Facebook announced new cryptocurrency called 'Libra' but not everyone is happy about it. In this Sen. Sherrod Brown interview with NowThis News, Brown explains why the Facebook crypto Libra coin would be a bridge too far in terms of Facebook's power. How Facebook earns money would be expanded by their ability to create money using a Facebook cryptocurrency explained Brown. This Facebook bitcoin competitor 'Facebook Libra' or Libra coin might give Facebook too much power over the market and small business owners argues Brown.
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