The Future of Facebook's Currency Looks Rocky As It Loses Supporters

Libra, a digital currency initiative by Facebook, is facing challenges as PayPal withdraws its support. Facebook aims to gather 100 backers, each contributing $10 million, to fund Libra and gain voting rights. However, skepticism from companies like Visa and MasterCard, due to regulatory scrutiny, threatens the project's timeline. Visa has not officially joined, only signing a non-binding letter of intent. Facebook CEO Mark Zuckerberg is open to delaying the 2020 launch to address regulatory concerns.

What potential impact could insufficient backing have on Libra's launch?

What did Facebook CEO Mark Zuckerberg say about the launch schedule?