Meta Doubles Down on Crypto—Because Nothing Says ’Trust Us’ Like a Second Attempt
After its Libra flameout, Zuckerberg’s empire is quietly rebuilding its blockchain ambitions. This time, they’re targeting emerging markets—where regulators are easier to charm (or bypass).
Global Domination 2.0: Meta’s crypto team is now hiring payments and compliance experts, signaling a fresh push into digital wallets and stablecoins. Because what’s a tech monopoly without its own currency?
The Twist: Unlike 2019’s regulatory fireworks, this rollout is stealthy—partnering with local players instead of fighting central banks head-on. A masterclass in ‘ask forgiveness, not permission.’
Wall Street’s Take: ‘How quaint—a tech giant chasing volatility while we short their ad revenue.’ But if anyone can lose $10B on the metaverse and still have VC money lining up, it’s Meta.
Meta’s Crypto Initiatives
Fortune reports that the company managing major applications like Facebook and WhatsApp is preparing to re-enter the cryptocurrency arena. Sources familiar with the matter indicate that Meta is exploring the use cases of stablecoins for payments and is in discussions with US-based crypto companies for development. With a dedicated product head experienced in crypto at the helm, Meta could soon announce new integrations involving stablecoins.
With the election win of Donald Trump, cryptocurrencies have shed their previous status as a fear factor for US companies. Given Trump’s own stablecoin initiatives and the commencement of crypto-friendly regulatory efforts, what regulatory hurdles could deter Meta under the current circumstances? Furthermore, with the potential for substantial profits from the crypto business, there is little reason for Meta to abstain. Consequently, discussions with crypto companies have been ongoing since the beginning of the year.
After abandoning Libra, Meta now appears ready to rejoin the crypto arena. Numerous companies, including Visa, MasterCard, and Schwab, are intensively working on new crypto products. The year 2024 marked the start of institutional demand with the introduction of ETFs. Meanwhile, 2025 is anticipated to be the year where companies from the Web2 sphere, alongside major players of the existing financial system, dive into cryptocurrencies.
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