Shitty day for Libra: Not only is PayPal bailing, Congress is signaling it wants Zuck to testify next (in addition to Sheryl) https://t.co/n6xGJRuNcV

— Tony Romm (@TonyRomm) October 4, 2019

Facebook had tried to mitigate lawmakers' fears of its power in the new currency by touting its 27 other corporate backers that make up the Libra Association. But that number is already dwindling. https://t.co/YraHvQeiGe

— Lauren Feiner (@lauren_feiner) October 4, 2019

WHO COULD HAVE PREDICTED that world governments would not be jazzed about the idea of Facebook taking control of global currency flows and applying pressure that led to the participating companies pulling out? https://t.co/Q5aiaIC1f1

— Laurie Voss (@seldo) October 4, 2019

More details here from @KurtWagner8 -- basically some of the Libra partners are concerned about the regulatory pushback Facebook is facing on this, and don't want to get caught up in it https://t.co/EZMjrUSVHn

— Sarah Frier (@sarahfrier) October 4, 2019

Any of you still think Libra will actually launch? https://t.co/DYiziHK3cY

— Cris Carrascosa ⚡️ (@CarrascosaCris_) October 4, 2019

More and more companies are signaling that they’ll be opting out of this dumpster fire.

I’m so disappointed in you plebs, for failing to see this coming. We’ve had shitcoins announcing fake “partnerships” to grab attention for years. Oldest trick in the shitcoin book. https://t.co/uBxKJhyh0w

— Udi Wertheimer IS RIGHT (@udiWertheimer) October 3, 2019

FB's Libra is scathing of PayPal + its choice to back out of Libra: "It requires a certain boldness and fortitude to take on an endeavor as ambitious as Libra...We’re better off knowing about this lack of commitment now, rather than later." More here https://t.co/lH93GfD53x

— Ingrid (@ingridlunden) October 4, 2019

Libra exodus is real now: PayPal is officially OUT of the Libra Association. https://t.co/0vk1lDcBkc

— Daniel Roberts (@readDanwrite) October 4, 2019

I heard it’ll take 3-5 business days tho https://t.co/IA2URwZSxf

— Brady (@Bmgentile) October 4, 2019

“It doesn’t seem that there was a lot of pre-work done with regulators,” the person said. “[Payments] companies don’t want that [regulatory scrutiny] to bleed into their businesses.”

[PayPal CEO also due to speak @money2020]https://t.co/HANMVPQAvx

— James Lloyd 勞瞻斯 (@jamesplloyd) October 4, 2019

PayPal “made the decision to forgo further participation” in the Libra Association but remains supportive of Libra’s mission.

PayPal Drops Out of Facebook’s Libra Payments Network https://t.co/HDXeItKOoc via @WSJ

— Hailey Lennon (@HaileyLennonBTC) October 4, 2019

PayPal out. Previous reporting said Visa and Mastercard also reconsidering. I was really surprised they all jumped on this “trust ship” together in first place considering the investigations and obfuscations involving Facebook leadership on other matters. https://t.co/YNGevfiv0H

— Jason Kint (@jason_kint) October 4, 2019

I agree. And frankly, paypal leaving probably improves Libra’s public image. https://t.co/ZsBlvulICA

— Michael Arrington (@arrington) October 5, 2019

PayPal, David Marcus's old company, is the first to drop out of the Libra project. Not the Libra wave FB meant https://t.co/OmRNt4NuE4

— Maya Zehavi (@mayazi) October 4, 2019

Ouch. Facebook's David Marcus is a former president of Paypal, too.
On the tech side, Libra is quite advanced, "post-blockchain" almost. Based on tech talent alone - several friends work at FB - I would not count out Libra just yet. https://t.co/lziNa0qooV

— Jeff Garzik (@jgarzik) October 4, 2019

PayPal, of course, is the outfit Libra boss David Marcus used to runhttps://t.co/nYeHOjz3vj

— Greg Bensinger (@GregBensinger) October 4, 2019

PayPal is about to quit Facebook’s Libra project, said people familiar with the matter. All backers of Facebook’s digital currency were due to gather on Thursday to discuss how to tackle increasing opposition — but Paypal didn't attend the meeting. https://t.co/rBuRAqjdqs

— Financial Times (@FinancialTimes) October 3, 2019

BREAKING: PayPal tells CNBC that it "has made the decision to forgo further participation in [Facebook's] Libra Association at this time" https://t.co/yzBQJBE4GY

— CNBC Now (@CNBCnow) October 4, 2019

Sometimes I can’t help but wonder if #Libra was meant as a major distraction from all of @facebook’s existing regulatory investigations and woes. https://t.co/n4CPdsRS29

— Elizabeth M. (@hackylawyER) October 4, 2019

Apple CEO Tim Cook slams Facebook’s Libra cryptocurrency as a power grab https://t.co/7Br9Ddd9RS pic.twitter.com/YzSNB9RSK8

— The Verge (@verge) October 4, 2019

-It is a scheme-

PayPal Drops Support for Facebook's Libra Cryptocurrency Scheme https://t.co/AMCSxTUeXk

— ≡l≡v≡nth (@3L3V3NTH) October 5, 2019

撤退者出たhttps://t.co/4LkoTfDeCm

— Lollipop (@yhzuask) October 5, 2019

#PayPal officially bails on #Libra: https://t.co/WiPZvqEr1f

— PYMNTS (@pymnts) October 4, 2019

PayPal on the verge of quitting Facebook’s Libra project https://t.co/JJps99kJmt

— Financial Times (@FT) October 3, 2019

Libra is like watching a train crash in slow motion. @thepsironi @Karunk @psb_dc @efipm @SpirosMargaris @LexSokolin @BrettKing #fintech #banking #innovation #digitalbanking #technology #future https://t.co/qcfMZrV5Wy

— Richard Turrin (@richardturrin) October 4, 2019

The beginning of the end of #Facebook's #Libra. #PayPal quit their project.. haha.. failhttps://t.co/Yss14QQcmW

— XRP HODLER ?? (@hodler_of_xrp) October 5, 2019

“It doesn’t seem that there was a lot of pre-work done with regulators,” one person close to the project said. https://t.co/rCijUTEApT

— Amy Castor (@ahcastor) October 3, 2019

PayPal is about to quit Facebook’s Libra project, said people familiar with the matter. All backers of Facebook’s digital currency were due to gather on Thursday to discuss how to tackle increasing opposition — but Paypal didn't attend the meeting. https://t.co/rBuRAqjdqs

— Financial Times (@FinancialTimes) October 3, 2019

PayPal on the verge of quitting Facebook’s Libra project #PayPal #Libra https://t.co/7B4SqNOsIc via @financialtimes

— Theo - 劉䂀曼 (@psb_dc) October 4, 2019

#PayPal on the verge of quitting #Facebook’s #Libra project.@FinancialTimes. #cryptocurrencyhttps://t.co/RXqbA3PnKW

— Urs Bolt | bolt.now ?? (@UrsBolt) October 3, 2019

One of the original backers for Facebook’s cryptocurrency is on the verge of pulling out. This project is enduring a difficult birth. Scoop by @MsHannahMurphy and me. https://t.co/guLAfJHy6U

— Kiran Stacey (@kiranstacey) October 3, 2019

PayPal withdraws its support from Facebook's Libra Association #PayPal #Libra https://t.co/RPGja5RqBH pic.twitter.com/Y54DmGVNun

— Neowin (@NeowinFeed) October 5, 2019

PayPal becomes first company to drop out of Facebook's Libra cryptocurrency https://t.co/K5PLgVBGeq

— QBaby (@weareqteam17) October 5, 2019

PayPal은 Libra 협회에서 공식적으로 탈퇴 https://t.co/MczW0Cl71B
• Libra를 이끄는 Facebook 임원 David Marcus가 PayPal의 사장이었던 것은 아이러니입니다.

— editoy (@editoy) October 6, 2019

PayPal becomes first company to drop out of Facebooks Libra cryptocurrency #socialmedia https://t.co/LeIMwKdjUf pic.twitter.com/WscXNzqKkP

— BitcoinAgile (@bitcoinagile) October 4, 2019