Erik Voorhees believes that Facebook’s Libra project may adversely affect the US Dollar and that US parliamentarians are worried about Libra.
Erik Voorhees, the founder, and CEO of ShapeShift, one of the cryptocurrency exchanges, recently participated in a publication and talked about the current developments in the cryptocurrency world.
Talking about the cryptocurrency community in general, Voorhees also evaluated Facebook’s own digital money project .
A few months ago, the social media giant announced the launch of a digital money project called Libra, which attracted millions of people.
Some people think that this digital money project will not be very useful and that Facebook cannot be trusted. Some people believe that the balance in the global financial system may change with the Libra project.
According to Voorhees, the US legislators are worried about the project because of the possible impact of the Libra on the US dollar.
Today, Facebook is thought to be an audience of about two billion people. According to Voorhees, this is another reason why US officials are concerned about this project. According to his statements, Facebook can weaken the role of the US dollar in the financial system with such a large audience, and this may cause the US authorities to feel “uncomfortable dan with the Libra.