Meet Facebook’s Libra, a digital currency for the social network

Meet Facebook's Libra, a digital currency for the social network June 18, 2019 / 9:05 AM / CBS/AP Did Facebook CEO know about privacy issues? San Francisco - Facebook already rules daily communication for more than 2 billion people around the world. Now it wants its own currency, too. The social network unveiled an ambitious plan Tuesday to create a new digital currency similar to bitcoin for global use, one that could generate more e-commerce on its services and boost ads on its platforms. But the effort -- which Facebook is launching with partners including PayPal, Uber, Spotify, Visa and Mastercard -- could also complicate matters for the beleaguered social network. Facebook is currently under federal investigation over its privacy practices and along with other technology giants also faces a new antitrust probe in Congress. Creating its own globe-spanning currency -- one that could conceivably threaten banks, national currencies and the privacy of users -- isn't likely..