But it ended on an upbeat noted, pointing toward the first Libra Council meeting, to be held on Monday.
Upon announcement of Libra, Facebook executives were immediately summoned to address American lawmakers.
On this recent unpleasant development, David Marcus who heads the project for Facebook expressed that though it is not a piece of great news, it would be wrong to read Libra's fate from this update. 'Change of this magnitude is hard. You know you're on to something when so much pressure builds up.
Whether or not Libra implodes, the exits highlight the extreme challenges that lie ahead for the project, which if successful could have a sweeping impact on the global financial system. Politicians and regulators around the world have called on Facebook to halt its progress, and some have suggested Libra could be used for illegal money laundering or trafficking schemes. The ongoing scrutiny of Libra makes Facebook's partners all the more vital to actually launching Libra.
Pentagon announces additional troop deployment, jets, missiles to Saudi Arabia
Two separate explosions hit an Iranian oil tanker on Friday, which set the ship on fire, Iran's ISNA news agency has reported . Iranian tankers routinely turn off their trackers as United States sanctions target the sale of Iran's crude oil.
Facebook CEO Mark Zuckerberg is set to testify before the US House of Representatives on October 23 to discuss concerns over "Libra" that has run into rough weather. Now, reports from The Verge, Financial Times and Bloomberg reveal that Visa, Mastercard, eBay, and Stripe are also leaving the group. Payment processing company Stripe is stepping back, as well as e-commerce company eBay.
In a statement released on Friday, eBay said it "respected" the Libra project. "At this time, we are focused on rolling out eBay's managed payments experience for our customers", an Ebay spokesperson told Business Insider in a statement. "At the moment, our focus is on our own payment project". "Libra has this potential", said a company spokesperson.
"Although the makeup of the Association members may grow and change over time, the design principle of Libra's governance and technology, along with the open nature of this project ensures the Libra payment network will remain resilient". The portals in and out of the ecosystem are the most important and legally sensitive parts of any new currency project - and Libra is no different.