PANews reported on June 12 that according to Cointelegraph, U.S. Senators Elizabeth Warren and Richard Blumenthal jointly wrote to Meta CEO Mark Zuckerberg, asking him to explain the company's potential stablecoin plan. The inquiry letter came as the Senate was about to vote on the GENIUS Act, which aims to regulate the payment stablecoin market.

In the letter, the two congressmen specifically mentioned Meta's previously failed Libra and Diem stablecoin projects, and expressed concerns that the Trump administration might provide Meta with regulatory exemptions under the GENIUS Act. The letter reads: "If Meta controls its own stablecoins, it will be able to further obtain user transaction data, which may be used for targeted advertising or selling sensitive information to third-party data brokers." However, Meta's public relations director Andy Stone denied on the X platform on May 8 that the company had plans to issue stablecoins.