President Donald Trump is A Guy Who Tried To Eat His Friend’s Sister in law and Got Eaten (2024)making bank off of cryptocurrency, and Big Tech wants back in on the action.
Meta is now looking to revisit its cryptocurrency plans as Mark Zuckerberg's company looks to launch a stablecoin to facilitate payouts on its social media platforms, per a new report from Fortune.
SEE ALSO: President Trump’s memecoin made 58 lucky crypto holders $10 million+According to Fortune, sources knowledgeable of these preliminary crypto stages say that Meta's new stablecoin plans are being spearheaded by the company's VP of product, Giner Baker, who previously worked in fintech and currently serves on the board of crypto organization Stellar Development Foundation. Meta reportedly held discussions with crypto infrastructure companies earlier this year.
Meta's crypto-related plans seem to center on a stablecoin used to facilitate payouts to creators on its platforms, like Instagram.
Back in 2019, before the company changed its name to Meta, Facebook announced a sprawling cryptocurrency projectthat included a new blockchain and crypto wallet for the social media platform. The centerpiece of Facebook's crypto project, however, was the company's plans to create its own stablecoin called Libra.
A stablecoin is a cryptocurrency token that's meant to maintain a stable price. In the crypto space, where the price of crypto tokens and meme coins is, well, unstable, stablecoins are meant to provide holders with a relatively safe place to store their money. (Although even that doesn't always work out.)
Facebook's Libra project hit some early roadblocks. In fact, President Trump, who was serving his first term in office, even shareda scathing critique of cryptocurrency as a whole, specifically mentioning Facebook's Libra. Regardless, Libra continued on. In late 2020, as cryptocurrency was set to boom, Facebook announced a rebrandfor the project.
By early 2022, however, the company now known as Meta seemed ready to give upon the Libra project due to regulator scrutiny. Then, crypto came crashing down by mid-2022 as a slew of major cryptocurrency tokens and companies failed. By that summer, Meta shut downthe final remnants of its crypto project.
Fast forward to 2025, and a lot has changed.
President Trump, now serving his second term, feels very differently about cryptocurrency. Trump launched his own meme coin earlier this year. $TRUMP has already resulted in hundreds of millions of dollars in profitsfor the president and his crypto companies from fees alone.
One of Trump's crypto companies, World Liberty Financial, has also launched its own memecoin, USD1. An Abu Dhabi investment firm has already announceda $2 billion investment in Trump's stablecoin.
Congress and financial regulators under Trump have been singing a different tune about crypto too as neither appear likely to take any actionregarding these potentially corrupt dealingsinvolving the sitting President of the United States.
So, the moment is ripe for anyone looking to start a crypto scheme, and Meta is apparently poised to take advantage of it.
Topics Facebook Cryptocurrency Donald Trump Politics Meta
Shop the Shark FlexStyle for 20% off at Amazon
10 years on, 'Kerbal Space Program' shoots for more distant stars
10 years on, 'Kerbal Space Program' shoots for more distant stars
This is why you should never bring your kids to a live Awards show
44 GPU Fortnite Benchmark: The Best Graphics Cards for Playing Battle Royale
The 13 best Doctor Who holiday gifts in the universe
This is why you should never bring your kids to a live Awards show
On a magical night 22 years ago, Jason Priestley punched Harvey Weinstein in the face
TikTok wants me to host a dinner party. Is that an actual recession indicator?
Lenovo Yoga Tab 13 is a tablet that doubles as a portable screen
'Mario Kart World' Nintendo Direct: 3 takeaways
Gentle reader, invitations just went out for a secret 'Bridgerton' ball
'The Office' almost had a different theme song: A legendary pop hit.
The city where Jesus grew up canceled Christmas because of Trump
Google Pixel Buds Pro 2: $40 off at Amazon
The city where Jesus grew up canceled Christmas because of Trump
Dating show promotes openly sexist dude, and like, read the damn room
Net neutrality isn't dead for these internet service providers
Get Rid of Windows 10 Ads, Office Offers and Other Annoyances
Dating show promotes openly sexist dude, and like, read the damn room
'Normal People' producer calls out Pornhub for pirated sex scenes'Mythic Quest: Quarantine' is a lockdown gift from AppleTV+Twitter tests feature that limits who can respond to tweetsFacebook launches 'Facebook Shops' for more inPresidential pets, rankedTwitter tests feature that limits who can respond to tweetsPixel 5 to lose Google's motion sense feature, report saysThousands of medical device manuals uploaded to help with repairHBO Max will finally #ReleaseTheSnyderCut of 'Justice League'The 'Buffy the Vampire Slayer' intro recreated using stock footage is a work of artScared to ride? These eHulu is rolling out a big app redesign inspired by Disney+How to use Nextdoor, Facebook, Slack to help neighbors amid coronavirusSasheer Zamata is leaving SNL, and these five moments are why you'll miss her so much'Apple Glass' could start at $499 with support for prescription lensesHow to help Navajo Nation, other tribes, amid coronavirusBadass little otter pup is a survivor, he gonna make it'Time' magazine's latest cover is a bold shot at Donald Trump and Russia'Paddington' villain Hugh Grant eats humble marmalade for a good causeChina looks to retaliate against U.S. over ‘unreasonable suppression’ of Huawei The ABCs of Gardening by Adrienne Raphel Five Mixed Metaphors for Translation by Daisy Rockwell Inner Light by Jack Hanson The River Rukarara by Scholastique Mukasonga “Choose Hope or Despair”: On John Shoptaw by Jenny Odell On the Distinctiveness of Writing in China by Yan Lianke Le Bloc: An Account of a Squat in Paris by Jacqueline Feldman An Opera on Little Island by Helen Rouner The Black Madonna by Aaron Robertson A Rose Diary by Walt John Pearce You Are a Muppet by Jane Breakell Three Letters from Rilke by Rainer Maria Rilke Making of a Poem: Maureen N. McLane on "Haptographic Interface" by Maureen N. McLane Second Selves by Elisa Gabbert "Perfection You Cannot Have": On Agnes Martin and Grief by Cody Delistraty The Nine Ways: On the Enneagram by Jacob Rubin “What a Goddamn Writer She Was”: Remembering Alice Munro (1931–2024) by The Paris Review Feral Goblin: Hospital Diary by Kate Riley New Books by Nicolette Polek, Honor Levy, and Tracy Fuad by The Paris Review Dream Gossip by The Paris Review
2.5669s , 10133.09375 kb
Copyright © 2025 Powered by 【A Guy Who Tried To Eat His Friend’s Sister in law and Got Eaten (2024)】,Wisdom Convergence Information Network