Tag Archives: Facebook (META)

Meta (formerly Facebook) started the development of its own stablecoin Libra in 2019. Facing public backlash, it tried rebranding it to Libra. Now, Zuckerberg’s company finally gave up, selling Diem’s intellectual property to an investment bank. The former Twitter CEO, Jack Dorsey, shared his views on the failed project with Michael Saylor, the man in charge of MicroStrategy. Meta’s mistake was working on a currency it owned – instead of using an open protocol like Bitcoin,...

The Diem Association – a cryptocurrency initiative backed by Meta – is reportedly considering the sale of its assets to return capital to its investors. The project is also in discussions with investment bankers about how best to sell its intellectual property and help the developers find new places to work. Diem Might Sell Its Assets During its relatively short time of existence, Diem has sparked some controversy. Established in 2019 under the name Libra, it aimed at...

Meta Platform’s (formerly Facebook) endeavors in the digital asset space may have been mired in controversy from the very start, but that has not deterred its efforts to explore new ways for users to utilize its cryptocurrency wallet, Novi. WhatsApp, the social media giant’s messenger subsidiary, has launched pilot crypto payments in the US with the help of Novi. The move comes a little over a week after top executive David Marcus announced that he would be leaving Novi at...