Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Top Democrat Maxine Waters asks Mark Zuckerberg about Meta's digital asset plans

Top Democrat Maxine Waters asks Mark Zuckerberg about Meta's digital asset plans

The BlockThe Block2024/01/22 23:07
By:The Block

Quick Take The California Democrat sent a letter to Meta CEO Mark Zuckerberg and Chief Operating Officer Javier Olivan on Monday, expressing concern over five trademark applications tied to digital assets that the company has filed over the past year. Rep. Waters has been critical of Meta’s foray into crypto, specifically its Libra stablecoin project

Top Democrat Maxine Waters asks Mark Zuckerberg about Meta's digital asset plans image 0

Maxine Waters, the top Democrat on the House Financial Services Committee, said she wants answers amid concern that Meta Platforms, formerly Facebook, could be delving back into its digital asset plans. 

The California Democrat sent a letter to CEO Mark Zuckerberg and Chief Operating Officer Javier Olivan on Monday, expressing concern over five trademark applications tied to digital assets that the company has filed over the past year. 

Those applications were for projects including an "online social networking and dating" service which allows for the exchange of digital currency, designing computer hardware and software related to blockchain, "currency trading of cryptocurrencies and other forms of virtual currency," among others. 

Waters has been critical of Meta's foray into crypto, specifically its Libra stablecoin project. Facebook said it planned to launch Libra, later known as Diem, in 2019, which quickly prompted concern among regulators and legislators who were hesitant about a stablecoin with ties to the social media company. 

Before Diem's eventual shuttering, Waters said she and other lawmakers sent a letter to Meta in 2019 asking for a moratorium on continued work on Libra and Calibra, its proposed digital wallet, over privacy and national security concerns. 

Waters points to past statements from Meta 

Staff from Meta also told the committee Democrats in October that there was "no ongoing digital assets work at Meta," Waters said in her letter. 

"Meta staff stated that the company is not currently conducting, nor planning any work on blockchain-based products or stablecoins," Waters said. "Additionally, Meta staff asserted that Meta is not working with any partners on integrating stablecoins or cryptocurrency into any payments or Metaverse products, and is not pursuing research and development in the space."

However, Meta trademark applications suggest that Meta has not stopped the activity since it shut down Diem, Waters said . 

Waters asked the firm questions about projects it plans to pursue and whether it was "planning to launch a payments platform that supports cryptocurrency." The congresswoman did not set a timeline for a response. 

Meta did not immediately respond to a request for comment. 


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

BC.GAME Rebrands, Expands $BC Crypto Ecosystem

BC.GAME, a leading name in Web3 gaming, has unveiled a major brand overhaul, introducing a new logo, updated colour scheme, and the bold slogan “Stay Untamed.” The rebrand signals the company’s sharpened focus on crypto integration and its vision to build a global, community-driven Web3 entertainment ecosystem.

DeFi Planet2025/05/13 17:00
BC.GAME Rebrands, Expands $BC Crypto Ecosystem

Ethereum Rally Stalls Near $2.58K as Holders Take Profits

Ethereum is priced at $2,438, marking a 3.5% decline in the last 24 hours after experiencing a 34% increase over the past week. According to data from Coinglass, open interest has fallen by 2%, suggesting a decrease in leveraged positions. This pullback comes after an impressive rally, during which ETH rose from $1,800 to over $2,500 in just a few days.

DeFi Planet2025/05/13 17:00
Ethereum Rally Stalls Near $2.58K as Holders Take Profits

Truth Social Denies Memecoin Launch Amid Trump Token Controversy

Truth Social, the social media platform owned by Trump Media & Technology Group, has denied circulating rumours suggesting it is launching a memecoin. In an official post, the platform dismissed the speculation as false, reiterating that it had no involvement in any crypto token launch.

DeFi Planet2025/05/13 17:00
Truth Social Denies Memecoin Launch Amid Trump Token Controversy