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60% of Crypto Investors in the United States Don't Understand Blockchain

Previously, the United States House of Representatives Financial Services Committee, Maxine Waters put pressure on Meta to be open about its blockchain or crypto-related plans. This is because META's five cryptocurrency and blockchain related trademark applications are still active since 2022.

Reporting from Cointelegraph, Wednesday (24/1/2024), Maxine Waters stated in a letter on January 22 to Meta founder and CEO Mark Zuckerberg and META chief operating officer Javier Olivan the trademark application filed on March 18 2022 represents an ongoing intention to expand engagement companies in the digital asset ecosystem.

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Waters said the application shows Meta is working on digital assets even though Meta told Democratic Financial Services Committee staff on October 12, 2023, there were no digital assets in the works at Meta.

Meta canceled plans for its payment crypto stablecoin Diem (formerly Libra) in mid-2019 due to pressure from lawmakers. He sold Diem for USD 200 million or the equivalent of IDR 3.1 trillion (assuming an exchange rate of IDR 15,658 per US dollar in January 2022 to Silvergate Bank which is now bankrupt.

Meta's mid-2019 plan to release a digital wallet, Novi (formerly Calibra), in 2020 also fell through with no indication of a new release date.

META's trademark filings demonstrate a wide range of services for crypto trading, blockchain assets, exchanges, payments, transfers, wallets, and related hardware and software infrastructure.

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Meta has until February 15 to respond to the first letter sent. The most recent NOA was sent on January 16, meaning there is still time until July 16 to respond.

60% of Crypto Investors in the United States Don't Understand Blockchain

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