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Rumor: Facebook Wants $1 Billion in Venture Capital for Coin Project

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Facebook is looking at a hefty proposition in raising venture capital for its upcoming stablecoin project.

According to New York Times reporter and long-time cryptocurrency writer Nathaniel Popper, the social media giant is looking at an equally large sum of capital to raise for investment into its cryptocurrency project. Popper writes in a tweet published on April 4,

“Update on Facebook’s cryptocurrency: Sources tell me that Facebook is now looking to get VC firms to invest in the Facebook cryptocurrency project we reported on earlier this year. I hear they are targeting big sums — as much as $1b.”

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