CFOTrends

Facebook Considering Currency-Backed Stablecoins For Libra

Following the departure of several major backers of Facebook’s Libra cryptocurrency, Reuters is reporting the social media giant is considering a compromise. Initially, Facebook proposed a synthetic unit for the cryptocurrency. The company’s efforts have been met with widespread suspicion and criticism from governments around the world. In what is no doubt an effort to …

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‘Strategic Leadership’ Leads to a 66% Raise for Microsoft’s Nadella

In its proxy statement, Microsoft announced a significant raise for CEO Satya Nadella. Citing his ‘strategic leadership,’ Microsoft’s independent board awarded Nadella $42.9 million in compensation, much of it in stock awards. Nadella has been instrumental in helping Microsoft transition from a company primarily focused on operating systems and office software to one whose cloud …

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FCC Approves T-Mobile and Sprint Merger But Opposition Remains

CNBC is reporting that the Federal Communications Commission (FCC) has voted to approve the merger between T-Mobile and Sprint. While the deal had earlier received approval from the Department of Justice (DOJ), the FCC’s approval is one of the final steps needed before the merger is finalized. The FCC’s commissioners voted along party lines to …

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Like Libra But Without Facebook

In the wake of reports that Facebook’s Libra currency is losing backers, Mashable is reporting that OpenLibra is being positioned as an alternative, “an open platform for financial inclusion. Not run by Facebook.” The new cryptocurrency was announced in Osaka, Japan at the Ethereum Foundation’s Devcon 5 conference. The currency will share the same Move …

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Facebook Libra Backers Back Out

A week ago we covered a Wall Street Journal article highlighting potential trouble for Facebook’s Libra cryptocurrency, as multiple backers were reconsidering their commitment to the project. Fast-forward a week and things have only gone from bad to worse. As Bloomberg reports, PayPal was the first to announce they were leaving on October 6, with …

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Libra Currency Backers Reconsidering Involvement

The Wall Street Journal (WSJ) is reporting that financial backers of Facebook’s cryptocurrency, Libra, are having second thoughts. According to sources familiar with the situation, Visa and Mastercard—both members of the Libra Association created by Facebook to oversee the project—are having doubts about continuing to back the currency amid criticism from various governments. Neither of …

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