Trump Warns Facebook on Libra as He's 'Not a Fan' of Cryptocurrencies

The transcript discusses Facebook's announcement of a new initiative, possibly involving cryptocurrency, and the subsequent reactions from key figures like Jay Powell and President Trump. Concerns about regulation and the potential global impact of Facebook's actions are highlighted, with discussions on how this could challenge existing monetary authorities. The uncertainty around regulating cryptocurrency and Facebook's influence is also addressed.

What was President Trump's stance on Facebook's cryptocurrency initiative?

• He believed it should be regulated like a bank.

• He wanted it to be banned completely.

• He fully supported it.

• He thought it was too small to matter.

What is the main issue highlighted in the second section regarding Facebook's Libra?

• The lack of clarity about its nature.

• The support it received from all political parties.

• Its technological superiority.

• Its immediate success in the market.

Why is Facebook's potential entry into the cryptocurrency market a global concern?

• It could rival existing monetary authorities.

• It would eliminate the need for traditional banks.

• It promises to solve all financial problems.

• It is supported by all governments worldwide.

What did Maxine Waters point out about regulating cryptocurrency?

• It is straightforward and well-understood.

• There is a lack of understanding on how to regulate it.

• It is not necessary for Facebook's Libra.

• It should be left to individual states.

What is a significant concern about Facebook's ability to create a cryptocurrency?

• It could lead to a monopoly in social media.

• It might cause a global financial crisis.

• It could challenge national monetary authorities.

• It would be too expensive to implement.