Bitcoin Advocate: Bet On Facebook’s Crypto Team

Anthony “Pomp” Pompliano has long been a diehard advocate for Bitcoin (BTC), and a fervent hater of banks, so many were surprised when he came out in support of the rumors that Facebook, a centralized company distrusted by many Bitcoiners, was foraying into crypto.

For those who missed the memo, just yesterday, as reported by Ethereum World News, Bloomberg divulged that the Menlo Park-based social media giant is looking to launch its own crypto asset. The early-stage project, unveiled by an anonymous source, will see Facebook’s blockchain arm aim to create a U.S. dollar-tied stablecoin on WhatsApp, a multinational messaging platform owned by the technology conglomerate. Per the source, the integration in WhatsApp will be aimed at India’s ~200 million users, as there is a growing need for low-cost, rapid, and easy-to-use remittance transactions.

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