A recent report claims that tech giant Facebook (now known as Meta) is still planning on developing its own digital currency despite previous failures in the crypto space. Mark Zuckerberg and the Masters of the Universe are reportedly exploring the “least regulated way to offer a digital currency.”
A recent report from the Financial Times claims that Meta, the parent company of Facebook, is planning on creating a digital currency — not unlike its failed Libra Project cryptocurrency. The company announced the creation of the Libra cryptocurrency in 2019, rebranded the project as “Diem,” and shut it down in February of 2022.
Mark Zuckerberg introduces Meta (Facebook)
The project faced intense scrutiny from politicians worldwide and the project appeared to be killed completely after intense interrogation of Facebook leadership by Congress. Rep. Brad Sherman (D-CA) went as far to tell one Facebook executive during a 2019 hearing that the creation of a Facebook currency would be worse than 9/11.
Rep. Sherman referred to the Facebook currency as “Zuck Bucks,” a name that has allegedly held up internally. But Zuckerberg reportedly wants to push forward with a cryptocurrency project, as long as it can avoid regulation and government scrutiny.
Meta staffers are reportedly hard at work trying to find the “least regulated way to offer a digital currency.” Facebook has not clarified whether the report from the Financial Times is accurate.
When reached for comment, a Facebook spokesperson said: “We have no updates to share today. We continuously consider new product innovations for people, businesses, and creators. As a company, we are focused on building for the metaverse and that includes what payments and financial services might look like.”
Stephane Kasriel, the head of Facebook’s finance division, reportedly sent a memo to staff in January, according to the Financial Times, in which she stated: “We’re making changes to our product strategy and road map . . . so we can prioritize on building for the metaverse and on what payments and financial services will look like in this digital world.”
Read more at the Financial Times here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan or contact via secure email at the address lucasnolan@protonmail.com
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