According to publications such as the Wall Street Journal and Bloomberg, dead – The company of Facebook, Instagram, etc. – you may have decided so Abandon their plans associated with DiemThe cryptocurrency Libra was unveiled in 2019.
As shown, the dead have decided sell technology which was behind Facebook’s cryptocurrency at Silvergate Bank with a total amount of $200 million. So the project had failed even before its birth. Diem could have been the cryptocurrency for Facebook transactions, but that’s not all.
Diem not received yet the approval of the authorities A specialist in the USA and immediately had to face various problems. Initially, Facebook entered into an agreement with world-famous credit card operators VISA and Mastercard, and later also with PayPal and eBay. However, in October 2019, relations between the two companies collapsed. The issues prompted Facebook to change the name of the cryptocurrency, from Libra to Diem.
One of the last blows the Meta Diem project suffered was Farewell David MarcusOperation Executive. Facebook’s cryptocurrency struck a deal with Silvergate Bank to adjust the value in relation to the US dollar, but in the end it seems that everything ended up selling the technology to the bank.
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