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Facebook strikes back. Having hired two veteran experts for its blockchain project from the well-known crypto startup Coinbase, Facebook makes it clear: the social network is about to be a competitive opponent for the upcoming crypto-related project Telegram Open Network (TON) from Telegram.

According to Business Insider, Facebook has hired two veteran compliance experts (Mikheil Moucharrafie and Jeff Cartwright) from Coinbase. Moucharrafie was at Coinbase for almost four years, most recently as a Risk manager and before that as a Compliance manager while Cartwright was the Director of Regulatory risk and exams at Coinbase, notes Business Insider.

Last year, Facebook started to hire staff specialized in blockchain in order to develop its own token. The social network put David Marcus, former president of PayPal, in charge of the initiative.

Earlier, Bloomberg reported that the social network could be launching its own token in the third quarter of 2019.

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