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Facebook might have had no inkling of the troubles that it would face when it first announced plans to launch its altcoin. Facebook is already mired in controversies related to privacy issues and the way it uses the data collected from millions of its users. To make things worse, the Facebook-backed cryptocurrency Libra has also started facing backlash from multiple fronts. About a week ago, PayPal, one of the strongest supporters of Libra, also backed out from the alliance.
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