Facebook has begun talking to U.S. regulators about getting approval for its forthcoming stablecoin cryptocurrency, said to be referred to as “GlobalCoin” at Facebook.
In a surprise announcement over the weekend, Tyler Winklevoss, co-founder & CEO of crypto exchange Gemini, tweeted, “Let’s play a game: Spot the @Gemini Crypto Bus. Reply to this tweet with your pics and #CryptoBus, best one wins 1 bitcoin (BTC). Right now they are in San Francisco, Chicago, and Washington D.C. Happy hunting!”
Charlie Shrem has come out on top of his legal dispute with Tyler and Cameron Winklevoss. Two months after Winklevoss Capital Fund was ordered to pay Shrem $45,000 in court fees after a federal judge overturned an order freezing more than $30 million of Shrem’s assets, the case was dismissed with prejudice, meaning it cannot be refiled. Both sides agreed to pay their own costs as part of the agreement.
TL;DR: Facebook isn’t merely developing a coin. What’s happening appears to be a massive shift in the social media giant’s entire business and crypto is merely a part of the bigger picture.