Facebook Libra: the inside story of how the company’s cryptocurrency dream died

A story of money, ego and hubris. After nearly two years, Meta’s cryptocurrency project had come to an abrupt end. It had the blue-chip partners, the tech and the right players, so why couldn’t it be saved? Speaking to more than thirty insiders, Hannah Murphy and Kiran Stacey explore how Meta’s plan for a global cryptocurrency fell to pieces. 

“What emerges is a picture of Silicon Valley executives who thought they could charge into finance and make billions, if only they could surmount technical and regulatory barriers. What they failed to realise was that the very fact Facebook had conceived the idea, doomed it.”