This case explores private and public proposals for digital forms of money that bypass the commercial banking system. A private proposal comes from Facebook's Libra. A public proposal comes from central bank digital currency (CBDC). The case begins with Mark Zuckerberg's vision for Libra and the ensuing pushback from policymakers. One of the main concerns-financial stability-is revisited during a tour of the arguments for and against a CBDC. The introduction of the first official CBDC by the Central Bank of the Bahamas is then discussed. The case closes with Zuckerberg pondering the economics of Libra in a bid to bring policymakers on board. The case is intended to follow a class on the economics of cryptocurrency (e.g., as presented in "The Economics of Cryptocurrency" [UVA-GEM-0190]). Prior exposure to the causes of and responses to the 2008 financial crisis is also strongly recommended to permit a substantive discussion of financial stability risks.