Former FDIC Chairman: Libra White Paper does not explicitly propose ways to dispose of its foreign exchange reserves

According to CCN, former Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Bair raised some concerns with Libra in an interview with CNBC. “If I buy Libra in my currency, what will the Libra Association do with my money? They are in the white paper. A bit vague… Collateral is where I have questions.” Although Libra claims to be a stable currency in the future, it is unclear how Facebook will manage its foreign exchange reserves.