Report: Facebook looking to VC funding for cryptocurrency

|About: Facebook, Inc. (FB)|By:, SA News Editor

Facebook (NASDAQ:FB) is looking to get venture capital firms to invest big dollars into its cryptocurrency project, according to NYT reporter Nathaniel Popper.

And that means "targeting big sums -- as much as $1B," he says in tweets.

Facebook could use that as collateral for its currency, he suggests -- and outside investment could help Facebook present its project as more decentralized and therefore more attractive as it would be less under Facebook's control.

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