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Facebook’s diminished Libra club officially launches — but still has no CEO

Seven of the original cast of 28 supporting companies have pulled out of the project

David Marcus, head of Facebook's blockchain subsidiary Calibra, testifies before the Senate Banking, Housing and Urban Affairs Committee
David Marcus, head of Facebook's blockchain subsidiary Calibra, testifies before the Senate Banking, Housing and Urban Affairs Committee Photo: Alamy

Facebook’s cryptocurrency Libra has officially launched its founding charter and announced a series of leadership appointments, after several early supporters of the project dropped out.

The Libra Association — a group of 21 companies supporting Facebook’s initiative — has appointed a senior team including former PayPal directors Bertrand Perez, in the role of chief operating officer, and Kurt Hemecker as head of business development.

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