Devin Wenig, CEO of eBay, said in an interview with CNBC that he believes that crypto assets will play an important role in global commerce in the next decade. For the previous Libra hearing, Wenig said: "The hearing made it very clear that there are two things that no one can understand but everyone is worried about: Facebook and cryptocurrencies. I want to say that we are the sponsor of this project, Part of the reason is encryption and blockchain—especially a public, distributed blockchain (referred to as Libra)—to reduce costs, increase transparency, and improve security. People still pay too much for transfers and settlements. This is a huge cost for the digital market…so, we should not lose weight because of small losses, encryption should play an important role in the flow of funds, especially in the digital business of the next 10 years."