Silvergate Capital Corp. has acquired Facebook’s Diem Group’s blockchain payment network, the California-based provider of financial solutions for the emerging digital currency industry announced Monday (Jan. 31). Under the terms of the deal, Silvergate has issued 1.2 million shares of Class A common stock to...
Facebook is unloading its cryptocurrency unit, Diem Association, to Silvergate Capital for an estimated $200 million, The Wall Street Journal (WSJ) reported Thursday (Jan. 27), citing unnamed sources with insider information. Now rebranded as Meta Platforms, Facebook launched its blockchain-based payment system and cryptocurrency project in...
Facebook’s sudden announcement of the Libra stablecoin on June 18, 2019 was the epitome of its old motto, “move fast and break things.” Thirty-one months later, the sputtering project finally ground to a halt, having crashed into political opposition, financial fears, abandonment by allies, regulatory...
Meta CEO Mark Zuckerberg is seeing the demise of his cryptocurrency project due to regulatory pressures, Bloomberg reported Tuesday (Jan. 25). The Diem Association, which used to be known as Libra and which is backed by Meta, is looking at selling its assets as a...
January 26, 2022
Facebook’s sudden announcement of the Libra stablecoin on June 18, 2019 was the epitome of its old motto, “move fast and break things.” Thirty-one months later, the sputtering project finally ground to a halt, having crashed into political opposition, financial fears, abandonment by allies, regulatory blockades thrown up in the U.S. and around the world, […]
February 01, 2022
Silvergate Capital Corp. has acquired Facebook’s Diem Group’s blockchain payment network, the California-based provider of financial solutions for the emerging digital currency industry announced Monday (Jan. 31). Under the terms of the deal, Silvergate has issued 1.2 million shares of Class A common stock to Diem and paid $50 million in cash for a total […]
January 27, 2022
Facebook is unloading its cryptocurrency unit, Diem Association, to Silvergate Capital for an estimated $200 million, The Wall Street Journal (WSJ) reported Thursday (Jan. 27), citing unnamed sources with insider information....
January 25, 2022
Meta CEO Mark Zuckerberg is seeing the demise of his cryptocurrency project due to regulatory pressures, Bloomberg reported Tuesday (Jan. 25). The Diem Association, which used to be known as...
August 25, 2021
Facebook is planning to link its launch of the Novi digital wallet to the debut of the digital coin Diem, according to David Marcus, who oversees F2 (Facebook Financial), in...
