Booking Holdings Drops Out of Facebook’s Libra Cryptocurrency Initiative
Skift Take
The Libra cryptocurrency program is falling apart following regulatory pushback. Booking Holdings likely didn't want the hassle of being associated with such a controversial initiative, which may not get off the ground in the near term.
Booking Holdings exited Facebook's Libra cryptocurrency initiative shortly before the Libra Association was slated to convene in Geneva Monday, Skift has learned.
The online travel company — the only travel company among the more than two dozen founding members — confirmed the move.
Booking Holdings' decision followed the departures of fellow founding members MasterCard, Visa, Paypal, eBay, and Stripe, according to published reports.
The Connecticut-based online travel company, which generated $9.2 billion in revenue in 2018 and has the world's largest business selling accommodations, wanted to avoid the controversy that's developing around Libra, a source said.
That controversy
