Facebook Reportedly Developing a Cryptocurrency Payment System
May 4, 2019 – The Street
A spokeswoman for Facebook’s blockchain efforts declined to comment to the Journal, saying simply that it “is exploring many different applications.”
Big investors are pumping money into hedge funds and venture-capital firms that specialize in the fledgling market for cryptocurrencies, despite last year’s collapse in prices for bitcoin and other leading currencies.
In just the past 12 months, investments in cryptocurrency-related assets have nearly tripled to $14.4 billion, across more than 800 companies and funds, according to industry tracker Crypto Fund Research. Regulators in New York State describe the market as “thriving” and have granted virtual-currency trading approvals known as “BitLicenses” to at least 18 companies…