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September 21, 2020
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FireBlocks CEO gives a cold shower to those who were excited about Libra

Libra has lost several supporters since its official announcement

The enthusiasm for Libra, the cryptocurrency supported by Facebook, was high in the Consensus: Distributed on Tuesday morning, but Michael Shaulov, CEO and co-founder of the FireBlocks crypto trading platform, was ready to take down all the excitement.

Host Ran Goldi, CEO of liquidity provider First – who has the motto “We believe in Libra” on his website – emphasized his position early on: “I won’t be surprised if we see other stablecoins being launched in Libra” , he said within the first 15 minutes of the show.

When Goldi spoke of Shaulov, he pointed out that FireBlocks had already facilitated more than $ 7 billion in negotiations every month. “I know that, looking at your website, I saw Genesis [Genesis Trading, empresa irmã da CoinDesk] and I saw other big liquidity providers, and I’m sure they will be part of the Libra ecosystem ”.

Goldi then asked his first question, “spicy”, as he called it, about why the FireBlocks had not decided to join the Libra Association, despite the fact that its main rival, the custody provider Anchorage, was a founding member.

Shaulov gave a half smile. The room he was in was not very well lit, which gave him a threatening presence. “That’s a really good question,” he said, before quickly refuting the idea that FireBlocks and Anchorage were, in any case, competitors.

So Shaulov turned to the main point: “We were thinking about being part of the Association [Libra] or not, and I think that, over time, we realized that, in fact, it’s not clear that being part of the association would really help us. “

Shaulov gave no further details and a stony silence filled the channel. Eight companies, including Mastercard, Vodafone and Visa, have left the Libra Association since its creation not more than a year ago.

Perhaps aware that he had killed the pro-pound atmosphere alone, Shaulov quickly added: “If we were part of the Association, I would not participate in this panel.”

“I’ll take that as a compliment,” joked Goldi.

Goldi could expect Shaulov to share his enthusiasm. At the beginning of the chat, CoinGecko co-founder TM Lee had criticized Facebook and the Libra Association for scaring regulators with their original white paper. “Obviously we made a lot of mistakes,” acknowledged Goldi.

Shaulov argued that stablecoins, more broadly, had exciting potential, but when Goldi asked what were some of the main characteristics that were lacking in Libra, Shaulov did not have to pause to think. “To exist,” said Shaulov, is the most important feature to be removed from the list.

Source: CoinDesk

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