We used to hear rumours of Facebook developing their own coin called meta in the early days of their name change, but that idea died off as natural courses have melt a heavy blow on the idea and that could have been influenced by the crash of altcoins in the last couple of months and years back and the social media already know that there is no future for them in the cryptocurrency market and at that, the re channelled the energy into something else.
So many countries were against the decision that already taken by facebook to issue the new token. many parties were trying to threatened facebook to stop their project. Many big companies have been learning from facebook's mistake and they will not repeat it again soon.
it will be sos tupid if they will repeat the same mistake by Facebook.
Oh, I thought the developer just gave up the idea, I never know countries already warned Facebook about the coin development and I know the reason is not far from regulations concerns and since Facebook is already a global brand it becomes hard for them to penetrate some regions that have strict laws on cryptocurrency, this is going to be a lot of set back for Facebook in that regards.