Apple CEO Tim Cook slams Facebook’s Libra cryptocurrency as a power grab

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Apple CEO Tim Cook had some choice words when asked about Facebook’s controversial blockchain project Libra, with the chief executive openly characterizing the company’s plans to launch a cryptocurrency as a blatant power grab. Speaking with the French newspaper Les Echos, Cook shot down any notion that Apple might be considering launching a digital currency of its own, given its recent investments in digital wallets, mobile payments, and consumer credit with the new Goldman Sachs-backed Apple Card.

“No. I really think that a currency should stay in the hands of countries. I’m not comfortable with the idea of a private group setting up a competing currency,” Cook told the publication in an interview published today. “A private company…

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