Meet the Libra Association's Newest Member

Plus a very weird decision by Coinbase Pro

Happy Friday, Blockfolians

The Lede

The Libra Association has just added a new member - one of crypto’s OG venture firms, Blockchain Capital.

Facebook-Backed Libra Cryptocurrency Project Is Scaled Back - The New York  Times

This is the most recent announcement of a new member since Singapore investment giant Temasek and venture firms Paradigm and Slow Ventures joined 3 months ago.

Libra has had a bit of a rough start, coming out the gate to significant skepticism on the part of global regulators and monetary authorities. Since then, it has scaled back some of its ambitions and recruited a new network of Association members, many of them from the technology space and accordingly more closely aligned.

It would be a mistake, however, to consider the project over or irrelevant. Libra represents one of the loudest and most aggressive moves of the private sector getting into the business of money. Whatever happens with that project specifically, the trend they embody is something that is just beginning.

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Final Thought

Carve out the 30 minutes it takes this weekend to read this. You won’t be disappointed.