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John McAfee calls off Freedom Coin project, lists out reasons for Libra’s failure

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John McAfee calls off Freedom Coin project, lists out reasons for Libra's failure

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Although John McAfee has managed to distance himself away from the U.S. government, he is one of the most active crypto advocates present in the space. Staying true to his beliefs, McAfee featured in another interview to discuss freedom and how Facebook’s Libra initiative goes against this thought. He said,

“Do we want a company like Facebook to be that gatekeeper? You know, I don’t think it will be Facebook.”

McAfee also highlighted the fact that Facebook “is a social media trying to become an institutional investor.” His main driver for supporting Libra’s failure is enormous mistrust, centralized control over currency and its basket that consists of various fiat, which may ultimately spark its demise due to conflict of interest. Additionally, he also announced the cancellation of The Freedom Coin (TFC) owing to sudden change of plans and surrounding situations in the entrepreneur’s personal life.

The seasoned entrepreneur further glorified Bitcoin as the ultimate store of value while reiterating his vision to see the crypto’s value cross “a million dollars” in the not so distant future. He also displayed support for Ethereum after saying that “the smart contract is one of the greatest applications” although he openly despised the use of BNB token, which currently boasts the crown of fastest growing altcoin in terms of market capitalization.

Given that McAfee has called out the end of Freedom Project, the crypto proponent continues to support new projects in the ecosystem with the latest being Beatzcoin and its related VibraVid project.

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Arijit is a full-time journalist at AMBCrypto, who focuses on the XRP and Ethereum ecosystem. Leveraging over three years of experience in media and Majoring in Computer Science, he covers the technical developments in the crypto ecosystem
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