The leading online tourism company Booking Holdings has resigned from the Libra Association, which manages the Facebook consortium proposed by Libra stablecoin.
Booking Holdings has thus become the latest in a series of companies that have abandoned the project, leaving it with 21 founding members from the original 28 organizations, Bloomberg announced on October 14.
Booking Holdings - who is behind the booking.com, priceline.com, agoda.com and Kayak travel sites, among others - became a founding member of the Libra Association in June. In August, Booking Holdings CEO Glenn Fogel said he believed that currencies based on currency chains would continue to grow and could become more popular.
The movement precedes the testimony of Facebook president Mark Zuckerberg on Libra before the Financial Services Committee of the House of Representatives on 23 October. Announcing the meeting, Congresswoman Maxine Waters mentioned the draft "Keep Big Tech Out of Finance Act", which aims to ban large technology companies from obtaining licenses to operate financial institutions in the United States.
