Facebook Libra’s Senate Committee anti-trust hearing gave way to the latest sensation “Shitcoin” popular search. But the real good news would be altcoins returning to bearish zones. Libra Senate hearing has left more ripples than last Facebook appearance in the Senate.
Facebook has been the hot topic these days, trying really hard to find a workaround all those sanctions that the Libra stablecoin can get it up and running. Libra has been called names again but the bitcoins as a general have received some good news from the hearings by the US congress.
Congressman Warren Davidson referenced Libra as the ‘shitcoin’. And yes, the shitcoin is ‘a technical term in monetary economics’ as explained by the president of Nakamoto Institute, Michael Goldstein:
"Shitcoin" is not profanity. It is a highly technical term in monetary economics.
— Michael Goldstein (@bitstein) July 17, 2019
Well, it was that much to be said and then the google searches for shitcoin were to skyrocket:
— Felipe (@PhilCrypto77) July 17, 2019
The hearing session concluded with the verdict that Facebook is a threat Facebook has been termed dangerous by the secretaries because of the previous incident concerning user privacy as the pivot of discussion. How did things come to this for Facebook?
Anyhow, the social media giant must try and make the masses believe that it is trustworthy enough to be given a say in how things should be run in the crypto market – or, as it should be said, Facebook should be allowed to show how the market is run.
David Marcus, the head of Facebook’s messenger app team and the lead in the Calibra project as the spokesperson have been taken more than his fair share of hits as questions that he has been unable to answer.
House Representative Patrick McHenry told CNBC:
— Squawk Box (@SquawkCNBC) July 17, 2019
Changpeng Zhao, the boss-man at Binance has not much to say other than Libra isn’t in the congress’ good books, although it’s not the same with Bitcoin.
Bitcoin came back to the ten thousand dollars ($10,000). Litecoin has been amped eighteen percent (18%) as well. The remaining altcoins have followed suit with Ethereum returning back to two hundred and twenty dollars ($220 mark) after a quick fall.