In 2019, Facebook announced Libra Coin, a digital currency that promised to change the world. Backed by Visa, Mastercard, and PayPal, it was supposed to be fast, borderless, and revolutionary. But behind the hype, Libra was doomed from the start. Governments and banks saw Libra as a threat to the entire global financial system. Unlike Bitcoin, which is decentralized, Libra was controlled by corporate giantsâ”essentially giving Facebook the power of a central bank. Then, the cracks started showing. Major investors pulled out, fearing legal trouble. Reports surfaced that Libraâs structure could enable money laundering, and some believed it was just a data-harvesting scheme in disguise. By 2022, it was over. Libra rebranded as Diem⦠and then shut down completely. Millions of dollars v
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