'Like a toddler' with matches: Facebook slammed by senators in Libra hearing

Facebook found itself in the hot seat on Capitol Hill once again on Tuesday. This time the social media company was grilled by the Senate Banking Committee in a hearing on its proposed digital currency, Libra.

Members of Congress could not make it any more clear: they don’t trust Facebook.

"Facebook is dangerous," said Sen. Sherrod Brown, opening the hearing. “Like a toddler who has gotten his hands on a book of matches, Facebook has burned down the house over and over and called every arson a learning experience.”

Libra is currently being developed by Facebook with the goal of creating a blockchain-based token that can be instantly transferred via services like Facebook Messenger and WhatsApp. The company also launched Calibra, a subsidiary focused on making Libra-related products such as a digital wallet. Read more...