Ripple News

Crypto Prices Gain; Ripple CEO Says Facebook Responsible for Libra Criticism


© Reuters.

Investing.com – Prices of Bitcoin and other major cryptocurrencies rose on Friday in Asia. Ripple CEO Brad Garlinghouse’s comments received some focus after he said Facebook (NASDAQ:FB) itself is responsible for all negative feedback surrounding Libra.

Bitcoin gained 3.9% to $10,388.6 by 1:15 AM ET (05:15 GMT). Ethereum rose 1.1% to $215.01. Litecoin inched up 0.3% to $97.015.

XRP underperformed and slipped 0.3%.

Garlinghouse noted that Facebook “was going too far” by saying that it was going to become a new currency.

“I think the U.S. dollar works pretty well. We don’t need a new flat currency,” he told Bloomberg.

Bitcoin declined 7% in July, its first monthly drop after five straight months of gains. News that Libra’s proposed launch is likely to be delayed amid heavy scrutiny from global regulators was cited as the main catalyst for the selling.

In other news, Hong Kong-based airline Cathay Pacific said it has introduced the first blockchain project to manage its unit load devices, which are containers used to load luggage, freight and mail, allowing a large quantity of cargo to be bundled into a single unit.

The new project could reduce paper-based processes, saves ground crews time and helps prevent delayed flights, according to reports.

The airline provides cargo and passenger services to more than 200 destinations around the world.

Source: investing.com
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