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James Eyers

Can Facebook be trusted with Libra?

Facebook's shift into financial services is jaw-dropping in its audacity. It will be a long road to convince regulators to back its finance play.

James EyersSenior Reporter

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Fourteen months ago, Facebook founder Mark Zuckerberg was hauled before a US Senate committee to explain how data from the social network might have been used to swing the result of the US election in favour of Donald Trump.

It was a spectacular breach of public trust, triggering myriad questions about whether the tech behemoth respected user privacy, and turning 2018 into an annus horribilis of mammoth proportions. Regulators all over the world, including in Europe and Australia, turned the screws.

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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au

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    Original URL: https://www.afr.com/link/follow-20180101-p51yr5