Mark Zuckerberg, the head of Meta (formerly Facebook), could not stay away from the rapid development of the crypto industry, thus deciding to create his own cryptocurrency. Despite high hopes and expectations, it turned out to be a big failure, followed by the government's rejection of the project's development. So why couldn't the world's largest social network create its own cryptocurrency? Let's explore this case closely.
Less than a decade ago, China actively opposed all types of cryptocurrencies and their mining. Even today, Chinese President Xi Jinping mentioned blockchain technology in his speech and called for accelerating the development of other core technologies in this area. Somewhat later, the Chinese media reported testing a new Chinese cryptocurrency that could challenge the global dominance of the U.S. dollar.
For over four years, the Taihuttu family from the Netherlands has been living exclusively off their bitcoin investments. In 2017, the head of the family, Didi Taihuttu, decided to put everything on the line and invested in bitcoin, selling the profitable business
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