Gold Prices Rise as Oil Slump Eases Fed Rate Hike Fears 
US, Japan and South Korea Back Taiwan Ahead of Trump-Xi Summit 
US Dollar Hits Two-Month High as Fed Rate Hike Bets Rise 
Prysmian, Rio Tinto Supply Low-Carbon Cables for Amazon Ohio Data Center 
Telix to Acquire Germany’s ITM in $1.65 Billion Radiopharma Deal 
Wall Street Falls as Treasury Yields Surge, Oil Rebounds on Iran Tensions 
Meta Unveils Muse Charm AI Device, Expands Smart Glasses Lineup 
China Reviews Broadcom Switch Use in State Data Centres 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Gold Drops Over 1% as Dollar, Treasury Yields Surge on Fed Rate Hike Bets 
Oil Prices Extend Losses as U.S.-Iran Talks Ease Supply Fears 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Trump Bans CNN, MS NOW and Politico From White House 
SpaceX Nasdaq 100 Weight to More Than Double in Rebalance 
Goldman Sachs Names Simon Lyons UK Investment Banking Co-Head 
Vietnam, US Trade Deal Could Be Signed Soon, To Lam Says 
Add as a preferred source on Google
Facebook dropped its Novi crypto wallet this week for a pilot run, and just hours after its launch, government officials have called on Mark Zuckerberg to immediately discontinue the cryptocurrency wallet that is being powered by Coinbase.
Five U.S. senators sent a letter to the Facebook chief executive officer, and they are Brian Schatz, Elizabeth Warren, Richard Blumenthal, Sherrod Brown, and Tina Smith. The officials signed the letter and sent it to Zuckerberg on Oct. 19.
They are urging the Facebook chief to stop its Novi crypto wallet project, and it should be taken down immediately. The senators cited the extent of the controversies that the company is facing as one of the reasons for their opposition to the launch of its own blockchain-based digital wallet.
The officials also noted that Novi was originally designed to hold the Diem cryptocurrency, but it was changed to Paxos Dollar (USDP) during the pilot launch. They said that this happened as the Diem that was formerly named Libra has been subjected to heavy scrutiny and regulatory barriers.
"Unfortunately, Facebook's decision to pursue a digital currency and payments network is just one more example of the company' moving fast and breaking things (and in too many cases, misleading Congress in order to do so)," the senators stated in the letter.
They added, "Time and again, Facebook has made conscious business decisions to continue with actions that have harmed its users and the broader society."
At the end of the letter, Warren, Schatz, Brown, Blumenthal, and Smith directly asked Zuckerberg to cancel the Novi pilot right away. They further told him to commit to a promise that he wouldn't bring Diem to the market.
CoinTelegraph noted that the note came from the office of Senator Brian Schatz, and it was co-signed by the other four officials. The outlet further mentioned that the senators made the request as they think the social media giant could not be trusted with managing a payment system or digital currency based on what it has shown so far regarding its ability to manage risks and keep users safe.
