Responding to the exits of four partners today, David Marcus (co-creator of Facebook’s (NASDAQ:FB) Libra project and head of Calibra) says “I would caution against reading the fate of Libra into this update.”
“Of course, it’s not great news in the short term, but in a way it’s liberating,” Marcus says. “Stay tuned for more very soon. Change of this magnitude is hard. You know you’re on to something when so much pressure builds up.”
Visa (NYSE:V), Mastercard (NYSE:MA), eBay (NASDAQ:EBAY) and Stripe (STRIP) all said they were leaving project today, just one business day before the Libra Association meets in Geneva to agree on membership and a charter. PayPal (NASDAQ:PYPL) had confirmed it was exiting the project last Friday.
“Special thanks to @Visa and @Mastercard for sticking it out until the 11th hour,” he says. “The pressure has been intense (understatement), and I respect their decision to wait until there’s regulatory clarity for @Libra_ to proceed, vs. the invoked threats (by many) on their biz.”