Top Congress Figure Remains Pessimistic About Meta’s Re-Entry Into Crypto

• Congresswoman Maxine Waters wrote a letter to Meta executives concerning their re-entry into the crypto space.
• The letter highlighted the firm’s five trademark applications regarding crypto services and blockchain technology.
• Considering Meta’s previous troubles in the space, Waters asked for more clarity regarding their intention.

In a recent letter addressed to the technology conglomerate Meta’s CEO Mark Zuckerberg and COO Javier Olivan, Congresswoman Maxine Waters questioned the company’s intention regarding its potential re-entry into the crypto space.

The letter highlighted the giant’s five trademark applications submitted to the United States Patent and Trademark Office (USPTO), concerning blockchain technology and crypto services.

The Congresswoman’s concerns connect with Meta’s previous abandonment of its plans to establish crypto services in 2022. In mid-2019, considering regulatory opposition, the company left its plan to launch the crypto-based payment platform Diem (Libra). Later in 2022, Meta sold Diem to Silvergate Capital Corp. for $200 million, stepping back from the crypto space.

Over the past year, Meta has submitted five…

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