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Watch Today's Facebook Libra Hearing at the House Financial Services Committee

Watch the live webcast of the House Financial Services Committee hearing on Facebook's Libra cryptocurrency project.

Updated Sep 13, 2021, 11:12 a.m. Published Jul 17, 2019, 1:50 p.m.
Bitcoin Senate hearing virtual currencies

Today the U.S. House Financial Services Committee will grill Facebook executive David Marcus on the social media giant's proposed Libra cryptocurrency.

The lawmakers will also interview a panel of expert witnesses, including former CFTC chairman Gary Gensler and bitcoin doyenne Meltem Demirors.

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The session kicks off at 14:00 UTC (10 a.m. EST). Watch it here:

Also, read our coverage of yesterday's Senate Banking Committee hearing, where mentions of bitcoin were noticeably scarce and Marcus said he'd be willing to be paid 100 percent in Libra.

Join CoinDesk in Washington, D.C., tonight for an evening of instant analysis and reaction as cryptocurrencies and Libra have their day on the Hill. Sign up here.

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Mike McGlone softens bitcoin downside target to $28,000 after backlash over $10,000 call

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Market analysts said the extreme downside scenario risked influencing real capital flows, prompting a heated public debate over bitcoin’s macro outlook.

What to know:

  • Bloomberg Intelligence analyst Mike McGlone has shifted his bitcoin downside target from $10,000 to about $28,000 after criticism that his earlier call was alarmist and risky for investors.
  • McGlone now argues that $28,000 is a more probable level based on historical price distribution and maintains that his analysis shows why investors should avoid bitcoin and other risk assets.
  • Critics including Jason Fernandes and Mati Greenspan say the revised $28,000 target is still unlikely or overly deterministic, warning that such stark forecasts can distort positioning and put real capital at risk in reflexive crypto markets.