On Monday, New York Times reporter Nathanial Popper revealed that Facebook would seek $ 1 billion in venture capital funds to support Facebook coin.
We are already aware that the social networking giant is developing its own cryptocurrency. It’s a little secret project, but Facebook is starting to leak some information about it. According to conservative Facebook estimates, its cryptocurrency could represent 2.65 billion euros by 2021.
We got more news about that; it appears from a tweet by journalist Nathaniel Popper of New York Times that Facebook is preparing to launch a $ 1 billion traditional fundraiser in preparation for launching its stable coin.
Actually, Nathaniel Popper twitted on April 4:
“Update on Facebook’s cryptocurrency: Sources tell me that Facebook is now looking to get VC firms to invest in the Facebook cryptocurrency project we reported on this year. I hear they are targeting big sums – as much as $ 1b. ”
“Given that one of the big allures of blockchain projects is the decentralization, getting outside investors could help Facebook present the project as more decentralized and less controlled by Facebook.”
As far as NYT contacts are concerned, they said that this fundraising would be intended to demonstrate that the social network is ready to offer some pledges, perhaps in reaction to initial suspicions of a future concentration of financial data. Indeed, the involvement of new partners could ensure that the future currency can be “more decentralized and less controlled by Facebook”.