Digital Bytes

Weekending 19thApril 2019

Facebook to raise $1 Billion for its Crypto currency

A New York Times journalist has reported that Facebook has been talking to Venture Capital (VC) firms to raise $1 Billion to invest in its cryptocurrency project. Facebook is looking to launch Facecoin in India on its WhatsApp platform later this year, and it is thought Tim Draper, a VC manager who backed Skype, Bitcoin ( five years ago) and Coinbase, is considering to participate and invest.

Facebook is allegedly going to issue a stablecoin, although it is not clear yet whether it…