More Problems For Facebook Led Libra As Association’s Head of Product Exits After Only 5 Months

    The current Head of Product at the Libra Association, Simon Morris, just officially left his position at the company. The Libra Association, which is based in Switzerland, is a nonprofit organization that would govern the Libra network.

    Morris joined the company around five months ago and worked there for a short time before leaving. At the time, he affirmed that he was very excited to participate in the new project and that there was a lot of work left to do.

    Before joining Facebook’s stablecoin project, Morris worked at BitTorrent for almost a decade. He led the crypto project at the company, which was one of the reasons why BitTorrent was bought by Tron last year.

    At the moment, there is no more information about why he left the company.

    Libra Association Is Losing Support

    Ever since PayPal decided to leave the Libra Association, it is clear that the organization has lost some support. Other important payment companies such as Stripe, Mastercard and Visa also are very undecided on whether to continue supporting the initiative or not right now, which can certainly be a problem for the future of the network.

    Even U. S. regulators, which are pretty negative about the whole project, have asked some of these companies not to join the association. If other important companies also decide to abandon the Libra project, it is highly unlikely that Facebook will be able to launch next year as it was originally planned.

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    Gabriel Machado
    Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

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