2w ago

Big Tech Wants to Become Its Own Bank

To the dismay of Elon Musk and Mark Zuckerberg, the law currently prevents Big Tech companies from opening banks. But if Congress passes the GENIUS Act, tech firms may start issuing private currencies and forcing us to use them.

Technology @lemmy.zip

BrikoX @lemmy.zip

2w ago

jacobin.com /2025/05/zuckerberg-musk-banking-crypto-tech/

Technology @lemmy.world

Pro @programming.dev

2w ago

Big Tech Wants to Become Its Own Bank

jacobin.com /2025/05/zuckerberg-musk-banking-crypto-tech/

2 comments

sold my soul to the company store
They weren't already? The amount of money they shuffle around and the megalomaniacal ideas they have that are just dreams of complete control (their own towns, cities, islands, with their own currency and so on), this cannot be surprising. I'm honestly surprised it wasn't already what they were doing.
Anti Commercial-AI license