New York (CNN Business)In its effort to bring the Libra cryptocurrency to life, perhaps the biggest hurdle for Facebook is a lack of trust and opposition from regulators around the world, who are concerned about Libra’s potential implications for privacy and financial stability and Facebook’s role in managing it.
Libra’s connected web, with David Marcus at the center
- Peter Thielfounded one Association member, PayPal, and sold it to another, Ebay. He was the first major investor in Facebook and now sits on its board of directors. Thiel also has investments, through his venture capital firm, in members Spotify, Lyft and Stripe.
- Mark Zuckerberg is Facebook’s founder and one of three board directors at Association member Breakthrough Initiatives. He is personal friends with Daniel Ek, founder and CEO of Association member Spotify — Zuckerberg attended Ek’s wedding in 2016.
- Venture capital firm Andreessen Horowitz is a Libra founding member and an early investor in Facebook. The firm has also invested in Lyft, Stripe, Coinbase and Anchorage. Co-founder Marc Andreessen sits on Facebook’s board and formerly sat on Ebay’s while it owned PayPal. Fellow co-founder Ben Horowitz is a board director at Lyft.
- Association member Union Square Ventures has invested in members Coinbase and Stripe.
- Frederic Court is a board director at Association member Farfetch and the founder Felix Capital, which previously invested in one of Facebook’s David Marcus’ startup companies, Zong.
- Wences Casares is founder and CEO of Association member Xapo. He is also a board director at PayPal and previously sat on the board of one of the Association’s nonprofit members, Kiva. Xapo received funding from Association member, Ribbit Capital.