Facebook Plans June 18 Cryptocurrency Debut

Facebook is finally ready to reveal details about its cryptocurrency codenamed Libra. It's currently scheduled for a 18th release of a white paper explaining its cryptocurrency's basics, according to a source who says multiple investors briefed on the project by Facebook were told that date.

Meanwhile, the company's Head of Financial Services & Payment Partnerships for Northern Europe Laura McCracken told German magazine WirtschaftsWoche‘s Sebastian Kirsch that the white paper would June 18th, and that the cryptocurrency would indeed be pegged to a basket of currencies rather than a single one like the US dollar to prevent price fluctuations. Kirsch tells me “I met Laura at Money2020 Europe in Amsterdam on Tuesday” after she watched fellow Facebook payments exec Paulette Rowe's talk. “She told me that she wasn't involved in what David Marcus' [Facebook Blockchain] team was doing. But that I'd have to wait until June 18th when a whitepaper was supposed to be published to get more details.” She told him she thought the date was already a publicly known fact, which it wasn't.

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