May 09, 2025

Warren Statement on Reports of Meta’s Newest Crypto Project

Washington, D.C. – United States Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee released the following statement on breaking news about Meta's stablecoin business:

“Six years ago, Meta tried to launch its own private currency – until it abandoned that effort due to overwhelming opposition from Republicans and Democrats in Congress. Now that Meta reportedly may try again after Mark Zuckerberg paid $1 million in tribute to Donald Trump, the Senate must fix the GENIUS Act so it prohibits Big Tech companies and other commercial giants from owning or affiliating with stablecoin companies. No Senator should vote to make it easier for Big Tech to pry into our financial transactions or choke off small businesses and political adversaries from the payments system. I call on Mark Zuckerberg to explain to Congress if this is another attempt to control the American people’s money.”