Bitcoin and crypto have exploded back this month as U.S. president Donald Trump teases of a “truly earth-shattering” announcement.
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The bitcoin price has rocketed to over $100,000 per bitcoin, up 30% from its April lows, triggering a wave of bullish bitcoin price predictions that could see the bitcoin price eventually flip gold’s $20 trillion market capitalization.
Now, as U.S. president Donald Trump’s crypto czar David Sacks surprises traders with a rare bitcoin price prediction, a leak has revealed Mark Zuckerberg is planning to add crypto support for Meta’s 3 billion global users.
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Mark Zuckerberg, the chief executive of Facebook’s Meta, is reportedly looking to again try to … More
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Meta is “in discussions with crypto firms to introduce stablecoins as a means to manage payouts,” Fortune reported, citing anonymous sources. Meta declined to comment to Fortune.
Meta, which runs the Facebook, Instagram and WhatsApp platforms and is developing a shared virtual reality it calls the metaverse, is still licking its wounds from its failed attempt to upend the global financial system with its libra-diem crypto-inspired currency that was torpedoed by regulators in 2019.
Since then, the dollar-pegged stablecoin market, dominated by Tether’s $150 billion USDT, has seen massive growth—helped by Trump’s embrace of bitcoin and crypto that includes his ambition to pass landmark stablecoin legislation that would see the cryptocurrencies become part of the traditional financial system.
The phenomenal success of USDT, which landed Tether profits of $13 billion last year, has led to a sudden influx of rivals, with tech and Wall Street giants including PayPal and Bank of America either launching or working on their own dollar-pegged stablecoins.
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The bitcoin price has surged back to near its all-time highs as a perfect storm swirls around the … More
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Last month, research by Standard Chartered Bank found the stablecoin market could grow to $2 trillion by the end of 2028 from $230 billion currently thanks to passage of pro-crypto U.S. legislation.
Meta chief executive Mark Zuckerberg spoke at a Stripe conference this week, Fortune reported, after Stripe announced it would be “accelerating” its use of stablecoins using the stablecoin infrastructure company Bridge it bought last year.
“There’s plenty of things that [we’re] late to, and have to claw our way back into the game, which I think we’re pretty good at,” Zuckerberg reportedly said following his appearance on stage with Stripe cofounder John Collison.
“This development makes perfect sense—it is already common practice in the metaverse and video-gaming industries to use stablecoins to enter the in-game economy,” Arnoud Star Busmann, chief executive at Netherlands-based stablecoin provider Quantoz Payments, said in emailed comments.
“So in that regards, there’s nothing new here—just the sheer scale potential of the Meta ecosystem underlines the acceleration of adoption of stablecoins as superior payment rails.”
