Facebook denies having discussion with Stellar

11 Aug, 2018
by Fifi Arisandi
Facebook denies having discussion with Stellar

Facebook denies having a discussion with Stellar, despite Business Insider's report last Friday. 

A Facebook spokesperson made a statement to the media that the company is not looking at cooperating with Stellar, despite the rumor that has been flourished in the public following a report of both companies' meeting just recently.

As reported by Business Insider's last Friday, Facebook held a meeting with Stellar to discuss the plan to create their cryptocurrency on Stellar network. The report also mentioned a statement from an anonymous source in Stellar who said, "[Facebook would] be taking the rug out from under the banks. They can add a bank more quickly than a bank could build a social network."

Added with the news on David Marcus' stepping down from Coinbase's board just recently, the rumor has become very convincing that it has allegedly caused a surge in XLM price, despite the bearish market for all the other cryptocurrencies.

On his stepping down, Marcus said that he wanted to avoid a conflict of interest as he is also the leader of Facebook’s Blockchain Research department, as Chepicap reported just hours ago. 

Against all assumptions and sentiments, Facebook made a statement just recently saying that they won't partner with Stellar. The company's spokesperson told Cheddar, "We are not engaged in any discussions with Stellar, and we are not considering building on their technology." 

It seems now that the best option the public has is only to wait and see which claims would be revealed as the truth in this matter. 

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Read more about: Stellar (XLM)


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