Ebay, Stripe, Visa, Mastercard Drop Out of Facebook Libra Cryptocurrency, After PayPal

Ebay, Stripe, Visa, Mastercard, and Mercado Pago are all dropping out of Facebook’s libra cryptocurrency project, the companies announced Friday. The news comes one week after PayPal announced its withdrawal as government regulators continue to scrutinize the plans. From a report: The original coalition of 28 corporate backers of the libra cryptocurrency seems to be dwindling as lawmakers continue to question how it will impact sovereign currencies and how the project’s leaders can ensure consumers’ protection. Mastercard and Visa had both been reconsidering their roles in the project as well, The Wall Street Journal reported last week. The Libra Association, the nonprofit in charge of managing the cryptocurrency, said it is still looking to move forward.