Facebook Gets Grief Over Novi; Thiel Hails Bitcoin as ‘Canary’ in Coal Mine

Although Facebook’s Novi crypto wallet has been available for less than a day to some users in the U.S. and Guatemala, it’s already run into complaints. A group of Democratic senators, including vocal crypto critic Sen. Elizabeth Warren (D-Mass.), published a letter Tuesday urging Facebook to discontinue the Novi pilot and its efforts to help develop the diem cryptocurrency. 

“Facebook cannot be trusted to manage a payment system or digital currency when its existing ability to manage risks and keep consumers safe has proven wholly insufficient,” said the letter, which cited internal research, recently reported by The Wall Street Journal, that showed Instagram was worse for some teen girls’ mental health.