According to CNBC, on June 28th, Morgan Stanley CEO James Gorman spoke about Facebook's cryptocurrency Libra. He said, "I personally are not very interested in the new cryptocurrency exchange or the new form of cryptocurrency. I have said it many times, and I may prove to be completely wrong. I don't understand, I am I don’t see the need for another form of value storage. I don’t understand why the system needs another form of value storage. We have money, precious metals, reserve currencies, and spare notes. Obviously, there is a certain demand there. But in fact we are not in it and will not bother me."