Mark Zuckerberg is Glori-Anne Gilbert Archivesonce again raising the threat posed by China as he looks to defend his company to lawmakers.
The Facebook CEO will appear before the House Financial Services Committee on Wednesday to answer questions about the company's plans for Libra, its cryptocurrency project that has drawn scrutiny from lawmakers and banking officials around the world.
In prepared remarks released ahead of his testimony, Zuckerberg said he knows there's a lot of distrust of Facebook.
"I believe this is something that needs to get built, but I understand we’re not the ideal messenger right now," he said. "We’ve faced a lot of issues over the past few years, and I’m sure people wish it was anyone but Facebook putting this idea forward."
He then quickly pivots to what has become one of his preferred talking points when faced with questions about regulation: China.
"But I also hope we can talk about the risks of not innovating," Zuckerberg writes. "While we debate these issues, the rest of the world isn’t waiting. China is moving quickly to launch similar ideas in the coming months. Libra will be backed mostly by dollars and I believe it will extend America’s financial leadership as well as our democratic values and oversight around the world. If America doesn’t innovate, our financial leadership is not guaranteed."
In other words: if Facebook doesn't do this, then China will.
If that sounds like a familiar warning, that's because it's one Zuckerberg has made several times before. He has raised China in previous Congressional appearances, and just last week the CEO criticized TikTok for censorship and said China "is now exporting their vision of the internet to other countries."
Zuckerberg is hoping to defend Libra, which has already gotten off to a rocky start. Lawmakers from both parties in the House and the Senate panned the idea, saying they don't trust Facebook. And earlier this month, Facebook lost support from some of its highest-profile outside backers, including PayPal, Visa, Mastercard, and Stripe.
"If America doesn’t lead on this, others will," Zuckerberg writes. "Foreign companies or countries may act without the same regulatory oversight or commitment to transparency that we have. We’re already seeing how companies with very different values are restricting people based on their beliefs. There’s no guarantee that services which support democracy and fundamental rights around expression will win out."
Topics Facebook Social Media Cryptocurrency
Is 'Sing Sing' streaming? How to watch the A24 drama at home.
Scotland's Nicola Sturgeon named one of world's most powerful women
4 things we learned about plastic straw bans from people with disabilities
Here are the best tweets from the past week
Auburn vs. Creighton 2025 livestream: How to watch March Madness for free
The Mountain teases big scene in 'Game of Thrones' Season 8. Cleganebowl?
This is Twitter's new emoji for the EU referendum
These bees decided to make their home on a busy street in London
NYT mini crossword answers for May 9, 2025
The first glimpse of Olivia Colman as the Queen in 'The Crown'
Episode 4: The Wave of the Future
The internet might make ADHD symptoms worse for teens
These deeply weird pool floats will keep your drinks safe this summer
Sacha Baron Cohen's new show: Is it worth watching?
U.N. aims to make carbon emissions cost money at COP 25 climate talks
'Rugrats' is making a big comeback, but there's a catch
Solange repurposes her dry cleaning bags as an elegant dance uniform
'The Bold Type' makes me feel inadequate in every way but I love it
Galaxy S9+ vs Pixel 2 XL Camera
The left explodes at media after Hillary Clinton declared presumptive nominee
Remastered 'Call of Duty 4' requires 'Infinite Warfare' disc, so go digitalThe police technology intensifying racial discriminationA classic tale of news aggregation gone wrong'House Divided'Richard Branson envisions 'sexy hotels' in spaceMillions stolen after Kim Kardashian West held at gunpoint in luxury Paris residenceMIT game lets you decide which humans survive in selfWill Arnett is bringing 'The Gong Show' back to ABC4 things 'WALLKanye West cuts gig short after Kim Kardashian reportedly held at gunpoint'Saturday Night Live' takes on first presidential debateCara Delevingne's new optical illusion neck tattoo will hypnotise you'Saturday Night Live' takes on first presidential debateSteve Aoki jumps into esports arena, buys 'Overwatch' champ team RogueMillions stolen after Kim Kardashian West held at gunpoint in luxury Paris residenceCollege football star shares battle with eating disorder in powerful Facebook noteCubs pitcher Jon Lester brilliantly responds to Twitter users who think he's Lester HoltIn which Lyft's Twitter account inadvertently illuminates our dystopian futureThis averageScientists see early progress on potential HIV cure How to GIF YouTube videos in 10 simple steps Staff Picks: Genet’s Maids, Hockey, and Vivaldi by The Paris Review A Badjohn in Harlem: An Afternoon with Earl Lovelace by Anderson Tepper Terry Winters by Yevgeniya Traps Dear Don Draper, I Think I Understand by Adam Wilson Cleavage sex: what is it and how do you do it? On Tour with the Magnetic Fields: Part 2 by Emma Straub How to try MusicLM, Google's text Poetic Doubt; Battling Anxiety by Lorin Stein Rite Aid surveilled customers using facial recognition tech with links to China Egyptians call out Elon Musk for spreading pyramids conspiracy theory Wordle today: Here's the answer and hints for May 13 Michael Robbins on ‘Alien vs. Predator’ by Emily Witt Music of the Heart? by Sadie Stein TikTok says it's not going anywhere after Trump promised a ban The best tweets of the week, including Garth Maul and Corn Palace To Do List: A Celebration of Dovlatov by The Paris Review Save up to 50% on select items during Petco’s Summer Playcation Event Sylvia Plath, Robot Librarians, and Lickable Wallpaper by Sadie Stein Eurovision 2023 is this weekend's must
1.7255s , 10108.0078125 kb
Copyright © 2025 Powered by 【Glori-Anne Gilbert Archives】,Wisdom Convergence Information Network