Meta’s shareholders voted against a proposal to assess adding Bitcoin to the company’s treasury, casting nearly 5 billion votes against it. The measure aimed to evaluate if converting part of Meta’s cash and bond holdings into Bitcoin would enhance shareholder value.
The board of directors labeled the proposal as unnecessary, emphasizing confidence in current treasury management. Meanwhile, Meta is shifting focus towards stablecoins, exploring their integration for global payouts, thus stepping back into the crypto space after exiting the Diem project.
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