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Carpe Diem? Meta flirts with stablecoins again ⚖️
U.S. Senators want answers as tech giant Meta circles stablecoin integrations with its platforms, including Instagram, Facebook and WhatsApp.
Stephen Graves
June 12, 2025
📝 What you need to know
U.S. Senators have demanded answers from tech giant Meta over reports that it’s in talks to integrate stablecoin payments into its platforms—including Instagram, Facebook and WhatsApp.
The letter, by—who else?— Elizabeth Warren and Richard Blumenthal, flags concerns that Meta could consolidate significant economic power and “threaten competition” through “issuing or controlling” its own private currency.
The debate recalls Meta’s previous flirtation with digital currency, Libra (no, not the LIBRA meme coin that landed Argentine President Javier Milei in hot water). Later renamed Diem, Meta’s digital currency project ultimately collapsed amid regulatory scrutiny and bipartisan political opposition. Whether it has more success this time around hangs in the balance.
📊 Myriad Market of the Day
💬 Quote of the Day
“Big Tech companies’ issuing or controlling their own private currencies, like a stablecoin, would threaten competition across the economy, erode financial privacy, and cede control of the U.S. money supply to monopolistic platforms that have a history of abusing their power.”
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