Meta Filed Trademarks For Crypto Coins, Exchanges And Wallets

Meta filed trademarks for crypto coins, exchanges, and wallets and the company’s logo will be at the nexus of everything so let’s read more in today’s latest cryptocurrency news.

Zuckerberg’s tech company seems to be setting its eyes on a new crypto-related endeavor. The company that was once known as Facebook, META filed trademarks for its logo to cover a range of purposes like crypto tokens, exchanges, and wallets. Among the eight trademark filings, six refer to crypto and blockchain-based technologies and the news came a few months after Meta’s exit from Diem which was known in the past as Libra.

Meta Platforms has filed 8 trademark applications for its Logo. The applications cover:

▶️ Crypto tokens
▶️ Blockchain software
▶️ Virtual currency exchanges
▶️ Financial + Currency trading
▶️ Digital, crypto, and virtual currencies#NFTs #Metaverse #Cryptocurrency pic.twitter.com/HWERdJrWhg

— Mike Kondoudis (@KondoudisLaw) March 23, 2022

What does this mean exactly? Meta announced it is looking to integrate NFTs on Instagram as one of the most popular apps. During the SXSW Conference, Zuckerberg said that he envisions the Instagram users being able to mint their digital avatar’s clothing as NFTs and because they are so unique, the crypto tokens exist on the blockchain and signify ownership so they can be included under Meta’s broad filings which cover any “crypto tokens.” this will allow Instagram and Facebook to add an NFT profile picture feature much similar to the one of Twitter.

As recently reported, The Australian Competition and Consumer Commission will be taking Meta platforms Inc to the Federal Court alleging that the company and its Irish branch engaged in “false, misleading or deceptive conduct” by publishing scam celebrity crypto ads. The users lost thousands of dollars to the long-running scams tied to the ad. The spotlight on META was heated up in Australia with the reports showing that the Australian regulator was investigating the company over fraudulent crypto ads back in February. The Aussie mining billionaire Andrew Forrest took legal action against the company for hosting Ads that used his name and scam victims.

Also, Former meta employees and Diem developers gathered some funds from crypto venture capital gains to develop their own version of the now-defunct Diem proejct. Meta gave up on its plans to create a digital currency last year but in early 2022, it sold the remaining assets to Silvergate Capital for $182 milion. The team behind the Diem project announced they were working on the new Aptos blockchain which outlined huge funding rounds from crypto VCs.