joining us now with details is kurt wagner. interesting strategy facebook is taking.you tell us? >> it is very interesting. we know the two companies do not like each other. we have seen their ceos exchange barbs. we have seen them come out with statements especially around this ios update. this is the most aggressive facebook has ever been against a competitor. it seems to me they are trying to do two things. they are obviously trying to deflect some of the attention they are getting for some of their own antitrust issues. they are trying to shape their own reputation. a company that is here to fight for small businesses during a time of need. i'm not sure how well it is working, but it is a big swing for facebook. emily: is it going to work? >> i don't think facebook's reputation is strong enough for anyone to take them seriously. i posted the ad on twitter and nine out of the 10 responses i got were -- this has got to be a joke, right? this is the company that uses our data to show us targeted ads and make money. there is not a lot of goodwill for facebook right no

joining us, kurt wagner. the name change happened just weeks ago.here was a big scandal and kerfuffle with regulators and so on, with libra, and that name became toxic, so much that paypal and others left. does the name change change anything? kurt: it certainly does not change the overall plan, which is to bring these coins, now a series of coins. the name does not change that. that they are starting year for is a tough this project. ofple want to put the idea and put it behind them. i think it is more of a symbolic change more than anything. vonnie: facebook has been looking for 100 participants as they are looking to launch libra. will others come on board? kurt: i think others will eventually come on board if this ends up being a real thing. a lot bailed because they did not want to deal with the long regulatory road looming ahead of this project. i think if there are people willing to put in the hard work now and get it going and this becomes a usable coin as they hope, they will be able to attract more people live. at this point, i am not sure

vonnie: bloomberg's kurt wagner, thank you for that update.itcoin flew past the $20,000 mark this month, in fact reaching $24,000. it hit a bottom in march below $4000. the biggest rally since 20 17. investors are wondering if this time it can be sustainable. and what the role could be into 2021. with me is blockfi ceo zach prince. first, your thoughts on diem. would you be a supporter? zac: yes, we would be a supporter. what they are doing now, when they transition from the concept originally they had with libra where it was going to be a single currency, a net new currency that derived its value by being backed with a basket of currencies, they now say it will be individual tokens for each major currency they support. dollars, euros. this is already happening. in the cryptocurrency ecosystem, we refer to these as stable coins. the idea is you put a dollar in a bank account and you create a that you can move around on blockchain payment rails. this is one of the fastest-growing and most exciting parts of the industry right now, growing to ove