Lots of new details on Facebook crypto project froom @alexheath & @jon_victor_, including an independent overseer, ATM-like terminals & plans for developing countries.

Oh, and Sheryl and Wehner have been more skeptical than Zuck, who is ~all in~
https://t.co/RJ4gfyKaFR pic.twitter.com/wi1aIpAgsc

— Cory Weinberg (@coryweinberg) June 5, 2019

Facebook plans to create independent foundation to manage its cryptocurrency; will charge members $10M licensing fees for right to operate node.

This is nuts. The worst crypto practices and the proprietary code business model. https://t.co/BXGSFZGire

— Cris Carrascosa ⚡️ (@CarrascosaCris_) June 5, 2019

Facebook is unveiling a cryptocurrency. Employees may choose to have their salaries paid in this cryptocurrency.

It's really hard to come up with lightly satirical takes some days.

(At least company scrip used to physically exist! Heh, still got it.)https://t.co/iXjuMVADbJ

— Tech Workers Coalition (@techworkersco) June 6, 2019

Who is going to run the new Facebook crypto currency? Not Facebook, per se. Scoop from @alexeheath and @jon_victor_ https://t.co/klCcVdfoQl?

— Jessica Lessin (@Jessicalessin) June 5, 2019

“While it was previously reported that Facebook was meeting with venture capitalists to secure funding to back the token, people familiar with the matter said those talks have cooled in recent weeks.”

https://t.co/AdXtbUYf33

— Teddy Schleifer (@teddyschleifer) June 5, 2019

SCOOP w/ @alexeheath : Facebook plans to cede control of its forthcoming cryptocurrency to outside backers, a move meant to encourage trust in the digital payment system and reassure financial regulatorshttps://t.co/ZeTgSTJ7TR

— Jon Victor (@jon_victor_) June 5, 2019

Facebook will reportedly announce cryptocurrency this month, allowing employees to take it as salary https://t.co/hOKr2DScQ2

— Ken Yeung (@thekenyeung) June 5, 2019

Facebook is raising $1bn by charging 100 companies $10mm each to operate a node on its crypto network.

What?! ?https://t.co/9yZX73YTQ0

— Chris Maddern (@chrismaddern) June 6, 2019

Facebook, in an effort to foster trust with users and appease regulators, is planning to cede oversight of its cryptocurrency to an independent foundation of outside partners. The company plans to unveil the initiative this month. Story with @jon_victor_: https://t.co/7ctfabAts3

— Alex Heath (@alexeheath) June 5, 2019

Facebook's GlobalCoin design reminds me of John Nash's Ideal money proposal -- specifically, Nash's concept of a "currency board" being analogous to Facebook's "independent foundation" for the coin's governance and direction.https://t.co/IqC8xxr2Uu pic.twitter.com/RKbhFvDTk2

— Adam Taché ? (@Adam_Tache) June 6, 2019

What was clear from reporting this story is that Facebook is being very, very ambitious about this digital token, and wants to see it be as ubiquitous as USD or EUR. The goal is to also bank the unbanked in developing nations.

Also it won't be called GlobalCoin.

— Alex Heath (@alexeheath) June 5, 2019

Facebook is announcing its cryptocurrency later this month

The company is planning physical ATM-like machines where users can buy the currency, the report says.

Employees working on the project will be able to take their salary in the new currency. https://t.co/kjt7SEsvoK

— Matt Navarra @ #MojoFest (@MattNavarra) June 6, 2019

? BREAKING: #Facebook will announce its #cryptocurrency later this month, and will allow employees working on the project to take their salary in the form of the new currency @CNBChttps://t.co/lpoCzuLuak

— Infinite X Labs (@InfiniteXLabsHQ) June 6, 2019

Let the next bull run beginhttps://t.co/XSi6A1baHQ

— Timicoin (Blockchain As A Service) BAAS (@timicoin) June 5, 2019

How about you pay me $10 million to run a Joeycoin node. I promise I won't track your every move online or listen in on your phone's microphone to target you with ads ? https://t.co/sdY34d4Hor

— joey (@JosephFiscella) June 5, 2019

Take a moment.

Reflect on the last few turbulent years for #cryptocurrency.

Now consider the #GlobalCoin, arguably the most mainstream milestone, Drink that in.

Gonna get interesting..

Stepping off the #OpenScience soap box to hi-light this occasion.https://t.co/IJroQvZuYi

— IKU (@IKUnetwork) June 6, 2019

“The report says Facebook is soliciting third-party organizations to act as “nodes” to help manage the cryptocurrency, and has discussed charging $10 million for the privilege”

CHARGIBG $10M FOR THE PRIVILEGE

Lose my word here ??‍♀️??‍♀️??‍♀️https://t.co/fa7oeB1Vwk

— Dovey Wan ? ? (@DoveyWan) June 6, 2019

Facebook will reportedly announce cryptocurrency this month, allowing employees to take it as salary https://t.co/R0leFSMWxr

— Hristo Tenchev (@HristoTenchev) June 6, 2019

Interesting: #Facebook to charge $10M per license to manage its #cryptocurrency network#VC #fintech #banking #finserv #cryptocurrency #finance #banks #blockchain #regtech #Insurtech @MikeQuindazzi @FGraillot @topcybernews @socialfave @d_zimnochhttps://t.co/aD3IYcpajV

— John C. Maxwell III (@maxjcm) June 6, 2019

Facebook to charge $10M per license to manage its #cryptocurrency network https://t.co/N6rRYVzyX1 #bitcoin @BankXRP @XrpMr @KingRippleXRP @digitalassetbuy @ImTheDebate @BakkupBradley @LoveForCrypto17 @CKJCryptonews @philosophyofmet @Hodor @XRPMichaelB @XrpBoy @stephenchip

— Matt⚡️ (@MatthewLINY) June 5, 2019

@SEC_News going after a clear non fraud case in @Kik while Facebook rolls out the same $Kin playbook is disappointing to say the least. $Kin will likely win and seeing $FB doing it just doubled my confidence. https://t.co/PNUadkbi8P

— Blockchain Wealth (@6ixChainToronto) June 6, 2019

Report: Facebook plans to create independent foundation to manage its cryptocurrency; will charge members $10M licensing fees for right to operate nodehttps://t.co/Qc5zNzij1a

— The Block (@TheBlock__) June 5, 2019

Even the largest, most centralized companies are becoming decentralized. https://t.co/eXsE1LtmhB

— Ashe Oro (@Ashe_Oro) June 5, 2019

Zilliqa sharding needs 600 nodes minimum. #Facebook hopes to launch its network with 100 nodes. So 500 nodes stay at FB? The firm then plans to use these fees to back its cryptocurrency. $ZIL $FB #Zilliqa #Facebook #Blockchainhttps://t.co/o8bBSpLtx2https://t.co/9cQN6MkuKZ

— Lionel ?⚡️ (@CryptoLionel) June 6, 2019

The SEC coming after $KIN is just further securing #FACEBOOK ' s monopoly over your data. #KIK is blatantly getting ripped off again. @kin_foundation has created a real product that is already readily availabe all over the world! Even #EOS is behind!!!

https://t.co/v0U0U0XWKh

— Jace Sparks (@creativejace) June 5, 2019

Facebook plans to create independent foundation to manage its cryptocurrency; will charge members $10M licensing fees for right to operate node.

This is nuts. The worst crypto practices and the proprietary code business model. https://t.co/BXGSFZGire

— Cris Carrascosa ⚡️ (@CarrascosaCris_) June 5, 2019

Facebook's GlobalCoin design reminds me of John Nash's Ideal money proposal -- specifically, Nash's concept of a "currency board" being analogous to Facebook's "independent foundation" for the coin's governance and direction.https://t.co/IqC8xxr2Uu pic.twitter.com/RKbhFvDTk2

— Adam Taché ? (@Adam_Tache) June 6, 2019

Is this the shitcoin to end all shitcoins? https://t.co/DbRUPejQ5I

— Stacy Herbert (@stacyherbert) June 5, 2019

ICYMI: Facebook plans to create independent foundation to manage its cryptocurrency; will charge members $10M licensing fees for right to operate nodehttps://t.co/Qc5zNzij1a

— The Block (@TheBlock__) June 6, 2019

Impulsive FB questions:
✳️a company that refused to be regulated as a media company wants to run financial market infrastructure
✳️a company that has shown no respect for the law or its users' well being wants to get into payments to gobble more data https://t.co/QKUGSDSZD8

— Maya Zehavi (@mayazi) June 5, 2019

Gonna definitely need a decentralized oracle for that....https://t.co/aCYBxUUuOV

— ⬡ The_Crypto_Oracle ⬡ (@Crypto___Oracle) June 5, 2019

.@theinformation: Facebook plans to create independent foundation to manage its cryptocurrency; will charge members $10M licensing fees for right to operate node https://t.co/ONy6npHk5Y

— Frank Chaparro (@fintechfrank) June 5, 2019

Facebook が暗号通貨用の財団を作る予定か。

ノード運用をライセンス制にして、ライセンス料 $10 million を参加する企業から受け取り、価格安定などに使う。

参画するところはテック系と銀行系になるのかなぁ。https://t.co/oe3ZGrbiiI

— Coffee (@CoffeeTimesTW) June 5, 2019

In typical Facebook fashion, the company is launching a non-cryptocurrency cryptocurrency. https://t.co/f5ZfO8329k

— Demetri Kofinas (@CoveringDelta) June 5, 2019

Lol, buy a node on @Facebook Blockchain for only $10 million. Very open and egalitarian. https://t.co/DBOxd2hN7W

— Mike Dudas (@mdudas) June 5, 2019