According to AMBCrypto, Erik Voorhees, founder and CEO of cryptocurrency exchange ShapeShift, said in a blog post that a large number of hacking attacks have had a widespread impact on the largest exchanges, causing Shapes Shift to command users to complete KYC. He said that the Bitcoin community hated other encryption projects and attacked other projects on Twitter, which is a sad sight. Voorhees explains how Facebook's Libra stands out for its two main designs – it's built using blockchain technology, and it's not just a legal currency, it's a basket of fiat currencies. Voorhees believes that Facebook's encryption adventures make US lawmakers feel "uncomfortable" because they fear losing their dominance of the world's financial system. He added that Facebook's global influence poses a greater threat to them than Bitcoin or other cryptocurrencies.