Libra was set to launch within less than a year after the announcement but it was postponed several times; then two and a half years later Libra was rebranded as Diem.
META shares crash by 20% after Facebook decided to enter into the Metaverse and pause the pursuit of an immediate profit by building the metaverse so let’s read further in our latest cryptocurrency news. Judging by the drop in stock prices, the investors are not really convinced by Facebook’s plans to enter the metaverse. The […]
Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system. The payment totaled $182 million. The technology and assets acquired will reportedly be used for the launch of a Silvergate branded stablecoin. Silvergate Purchases Diem Operations Silvergate Capital, […]
On January 31, Meta, Facebook's parent company, announced that it had sold its cryptocurrency project Diem. It seems that this clears the way for their new NFT market.
Here is our pick of the 3 most important Stablecoin news stories during the week. Facebook exits the stablecoin business, or has it? This week the news was dominated by the news that Facebook has exited the stablecoin arena. Or has it? Certainly on the face of it (no pun intended) it looks like a clean […]
Meta has officially scrapped its cryptocurrency plans, after multiple attempts to launch the stablecoin Diem failed. 1/7 From the statement by the CEO Stuart Levey on the sale of the Diem group's assets to Silvergate — “From the outset, the Diem project has been focused on leveraging the benefits of blockchain technology to design a […]
Is it Libra or is it Diem, is it Facebook or is it Meta? Hard to keep up with all the name and brand changes, but whatever way you look at it, the news just in about the sale to a US based VC called Silvergate for $200m represents a significant fail. To try and […]
While cryptocurrency regulation has been a hot topic for quite a while, it wasn’t until last year that governments around the world began taking a bigger interest in regulating the booming crypto market.
Diem will sell assets to Silvergate for $200 million which means that Facebook’s stablecoin project will wind down as we are reading more in today’s latest crypto news. The Diem Association will sell off its asset and an IP to Silvergate for about $200 million. Facebook launched the stablecoin project in 2019 as Libra. Facebook’s […]