Tim Draper, venture capitalist and founder of Draper Associates, is reportedly meeting with Facebook, Inc. FB 0.9% to discuss Facebook’s interest in creating its own cryptocurrency. According to BitcoinExchangeGuide, Draper is meeting with Facebook to determine whether or not an investment in Facebook Coin “is a good fit” for Draper Associates.
Facebook Coin
Facebook is reportedly seeking $1 billion in venture capital to help fund the social media giant’s Facebook Coin project. Facebook users would potentially be able to conduct transactions using Facebook Coin over Facebook messaging app, WhatsApp. Facebook Coin would reportedly be a stablecoin pegged to the U.S. dollar, making it much less volatile than bitcoin and other popular cryptocurrencies.
Read more at Benzinga.
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