Bitcoin reached an all-time high of $19,511 in December 2017, capping a 1,400% surge that year, only to be followed by a 74% collapse in 2018
Switzerland has tried to establish itself as a global cryptocurrencies hub, but the entry into the market of a behemoth like Facebook will increase scrutiny over the rules Switzerland has in place
Facebook Inc. wants to spawn a new global currency - one that could meet the "daily financial needs of billions of people" and perhaps rival the greenback one day
The Libra is being designed as a form of electronic money linked to many national currencies
The scrutiny shows the risks for a corporate titan like Facebook of moving into a controversial industry like cryptocurrencies
The cryptocurrency, called Libra, will also have to overcome concern that Facebook does not effectively protect the private information of its users
To come anywhere close to matching the US dollar for utility and acceptance, Libra will need to be widely trusted
Crypto-linked stocks also rose in Asia, with Remixpoint jumping 6%
Litecoin, which has gained more than 330% since the beginning of the year, is outpacing all its crypto peers
Between March and May, bitcoin more than doubled in price, an ascent peppered by double-digit price swings reminiscent of its 2017 bubble, which was driven by smaller retail investors
Crypto proponents are taking encouragement from a string of recent headlines showing greater interest in the space from mainstream firms
Gemini Trust began trading as a bitcoin exchange in New York in 2015
Public facing systems around the world must tighten security and put together disaster recovery plans