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PayPal’s Exit From Libra May Trigger Fresh Hearings, Cowen Says

Oct. 8, 2019, 5:43 PM

PayPal Holdings Inc.’s decision to pull out of the Libra Association may lead to more congressional hearings from critics seeking to press the payments company for more details on why it walked away, according to Cowen.

A push for hearings may intensify further if Libra -- Facebook Inc.’s effort to develop a digital currency -- were to lose other members, analyst Jaret Seiberg wrote. Not only has Facebook failed to win Washington’s “buy in,” it’s also lost support and the “messaging war,” he said. And Seiberg warned that other backers may join PayPal in retreating rather than “risk getting pulled ...

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