Bought a little CELO Crypto here, and may buy more on weakness. Just a few bucks worth.
I know FB ceo has been trying to cash into the crypto market for some time, and failed.
The mobile market is huge.
In Africa, everone uses Watts App (owned by FB) and in Zimbabwe people trade in BTC as the local currency is worthless.
So FB has a customer base of over 2+ billion.
and there has been some recent news.
Celo Appoints Former Facebook, Bank of America Execs to Board (coindesk.com)
Looks like they are going to play along with the big boys and also the DOJ. Looks encouraging.
Disclosure, yep I own some.
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Business
Celo Appoints Former Facebook, Bank of America Execs to Board
Morgan Beller, former head of strategy at the Facebook subsidiary set up to develop the wallet for its cryptocurrency project, is set to join the Celo Foundation board.
By Jamie Crawley
Oct 11, 2021 at 5:17 p.m. BST
Updated Oct 11, 2021 at 6:12 p.m. BST
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/34R7BHTUFFA3PKBANKN3JTIVRM.jpg) Morgan Beller (NFX)
Blockchain payments startup Celo appointed former Facebook executive Morgan Beller to its board, alongside Jai Ramaswamy, who has previously worked at Bank of America.
Beller is the former head of strategy at Calibra, the Facebook subsidiary set up to develop the wallet for the social media giant’s cryptocurrency project Libra (later Diem). The wallet project was subsequently rebranded Novi.
For the past year, Beller has been a general partner at venture capital firm NFX, which this month launched a $450 million seed fund for crypto gaming companies.
Ramaswamy is the chief risk and compliance officer of cLabs, the company behind the building of the Celo blockchain.
Before joining cLabs, Ramaswamy worked in risk management at Bank of America and Capital One. Before that, he spent seven years at the criminal division of the U.S Department of Justice.
Celo is a proof-of-stake Ethereum-built blockchain, designed to support stablecoins and tokenized assets using cellphone numbers to secure a user’s public keys.
Read more: Celo Taps Aave, Curve, Sushi and More in $100M DeFi Incentive Program
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