Congresswoman Maxine Waters Questions Meta’s Ongoing Crypto Efforts

Congresswoman Maxine Waters is raising concerns about Meta’s ongoing efforts in the crypto industry. In a letter sent to CEO Mark Zuckerberg and COO Javier Olivan, Waters expressed her worries about Meta’s five active trademark applications with the US Patent and Trademark Office. She highlighted Meta’s intention to expand its involvement in the digital assets sector, as evidenced by its recent filing submissions. Waters pointed out that despite Meta’s claims of having no ongoing digital assets-related projects, the company’s patent applications indicate otherwise. This is not the first time Waters has questioned Big Tech companies venturing into the crypto space, as she previously scrutinized PayPal for its stablecoin. Meta’s previous attempt at launching its own digital currency project, Diem, faced backlash and was eventually sold to Silvergate Bank. Former employees of the Diem project have since created their own digital assets ventures such as Aptos and Sui.