Washington, DC — The following is a statement by Laura Hatalsky, Chief of Staff of Open Markets Institute, regarding PayPal’s withdrawal from Facebook’s Libra cryptocurrency:

That PayPal has woken up to the dangers Libra poses to democracy, and has chosen to leave the project, is enough of a signal that the remaining consortium partners should do the same and walk away. We applaud PayPal for its decision. We renew our calls for the other partners to join PayPal in leaving the project behind. 

For more information:

Open Markets Institute, Public Citizen, Demand Progress Education Fund, and Revolving Door Project Send Open Letter Demanding Libra Partners “Walk Away”