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Facebook's mellowed-out crypto

Illustration of binary code going into a wallet
Illustration: Rebecca Zisser/Axios

A decade after Bitcoin was born in a declaration of liberty from central banks and anyone else's control, Facebook is about to announce a new currency that sheds much of the crypto-world's counter-culture origins in hopes of actually being used.

Driving the news: For a year, Facebook has secretly developed a crypto-currency it calls Libra. As early as tomorrow, it will reportedly unveil its concept in a white paper. But if Libra is to gain the mainstream ubiquity for which Facebook is known, it will be because it jettisons some of the central principles that have united crypto purists.