Facebook cofounder says the company's cryptocurrency plans are 'frightening'

One of Facebook's most prominent critics is now sounding the alarm about the social network's cryptocurrency plans.

Facebook cofounder Chris Hughes, who made waves earlier this year when he called for the breakup of the company, is describing Facebook's crypto plans as "frightening" and warning that the endeavor could make the social media giant even more powerful.

In a new op-ed, published in the Financial Times, Hughes lays out his concerns about Libra, the Facebook-backed cryptocurrency revealed earlier this week.

Hughes takes issue with the idea that Libra will be a "decentralized" platform and argues that it will actually make Facebook (and its Libra partners) more powerful. Read more...