Tag: Diem

Ex-Meta employees have secured a $200 million funding round from crypto VC giants to develop their own version of the notorious crypto project Diem. Recently, Meta (formerly Facebook) abandoned its grand plans to create a digital currency and sold the remaining assets to Silvergate Capital for $182 million. The deal showcased how Meta is left…

According to anonymous sources, Meta (ex-Facebook) appears to be looking to pull the pin on its Diem/Novi crypto project, with company representatives searching for a buyer for its intellectual property. After three years of development and a raft of changes to its name, scope, leadership, and purpose, it seems like Meta’s trouble stablecoin project may…

David Marcus, the head of Facebook parent company Meta’s cryptocurrency efforts, said Tuesday that he will be parting company with the social media giant. Experts suggest that Marcus’s departure comes after delays of the Diem project amid scrutiny from regulators. Marcus announced the decision via a Monday tweet but hinted that it might be something…

There are two big questions on everyone’s lips now, writes Michael Garbade on Cointelegraph: What exactly is Facebook’s Diem, and what it will offer its potential 2 billion users? The year 2021 seems to be a big year for the blockchain world as several projects, such as nonfungible tokens (NFTs) and centralized decentralized finance exchanges…

Facebook has big plans for expanding in the world of financial services. Its upcoming digital wallet, Novi, will be built upon the still-pending stablecoin Diem to supplant established players like PayPal in the process. The social network’s Novi division will be “a next-generation digital wallet” built upon cryptocurrency that will be nothing short of a…

Diem, the digital currency and global payment system project of Facebook, seemingly can’t cope with its struggle with financial regulators. The payment project has been facing difficulties with senior legislators in the Biden administration. Despite the whole might of the lobbying power of the social media giant, the project of Facebook stablecoin hasn’t been able…