Business

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.

Exclusive: GM CEO Mary Barra on the painful jobs transition

GM CEO Mary Barra says the company will need to relocate workers to keep them in the family as part of its long-term vision for an electric, self-driving future. "I want to make sure this company is not around for the next five years but the next 50 and beyond," Barra tells "Axios on HBO."

Why it matters: With contentious labor talks looming this summer, Barra's challenge is to convince longtime autoworkers that her plan to divert resources toward unproven future technologies won't put their livelihoods at risk.