Facebook has repeatedly broken the public’s faith and should not be trusted to run a digital currency, a senior Democratic senator warned, in an indication of the political hostility the company is facing as it attempts to launch a cryptocurrency.
At a Senate hearing yesterday into Facebook’s Project Libra, Sherrod Brown, the most senior Democrat on the Senate banking committee, accused the company of being “dangerous” and not understanding the power of its own technology.
“They are like a toddler who has gotten his hands on a book of matches. Facebook has burned down the house over and over and called every arson a learning experience,” he said.
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