Californian bank Silvergate Capital has swooped to buy Meta-backed crypto project Diem's technology assets for $200 million, according to theThe bank had agreed last year to partner with Diem to launch a US stablecoin pegged to the dollar. The offering was meant to be user-friendly, and to revive the project first coined Libra in 2019, when Meta was still called Facebook. The stablecoin never launched, however.
Diem had faced stern opposition from regulators from the outset and was forced to rein in its ambitions. Instead of a stablecoin backed by a basket of global fiat currencies, the vision morphed into individual tokens backed by single national currencies. But the setbacks kept coming. In August last year, The Block reported that Meta’s crypto subsidiary Novi was planning to work with a stablecoin issuerMeta’s crypto lead David Marcus — a co-founder of Diem — resigned from the social media company in November.
Carpe Diem
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Diem to Sell Assets to Silvergate Bank for $200M: ReportThe Diem Association, the Meta Platforms-led enterprise that was looking to issue a new, user friendly stablecoin, is selling its technology to Silvergate Capital for $200 million JPRubin23 reports JPRubin23 can I somehow tweak this for a uni? JPRubin23 TKING Tiger_King_Coin 😎✌️ JPRubin23 Guys BTC 36/34K Long Not Miss
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Mark Zuckerberg's Meta in Talks to Sell Assets in Crypto Project Diem: Report – Regulation Bitcoin NewsMeta, formerly Facebook, is reportedly in talks with investment bankers to sell its assets in the crypto project Diem, formerly Libra. I’m looking to buy it. elonmusk will get you think. xrdoge xrdoge
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Meta-backed Diem in talks to sell off assets: reportThe Diem Association, formerly known as Libra, is reportedly in talks over selling off its assets to return capital to investors. L Diem stablecoin already bankrupt before launch 😂😂😂 RIP
Source: TheBlock__ - 🏆 464. / 53 Read more »
Zuckerberg's Diem reportedly weighing sale after stablecoin plans falterMeta-backed crypto initiative “Diem” is reportedly trying to sell its assets, seemingly calling time on Facebook's grand ambitions for a stablecoin to act as the internet’s currency. I'm using Black Crypto Cloud Mining application and earning $100 daily. Download the app now and earn free bitcoins .You have opportunity to earn profit . Initially you can get $20 and then get soon more this is made my day and hopefully yours aswell
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Meta’s Cryptocurrency Project Diem Could Go for Sale (Report)The Diem Association (formerly known as Libra) is reportedly exploring ways to sell its assets.
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Facebook-backed Diem Association may be close to dissolving | EngadgetThe Diem Association is reportedly “weighing a sale of its assets as a way to return capital to its investor members,” Bloomberg reports,. Lmao knowing Zuckerberg he’s going to buy an active coin. Again? Remember when it was libra? DiemAssociation you pushed the industry & discussion forward - thanks. it's tough to get a license for a programmable stablecoin that includes deduplicated ID that users own - and still conforms to regulatory reqs globally. The mission doesn't change, and wishing you good luck.
Source: engadget - 🏆 276. / 63 Read more »