Mark Zuckerberg’s stablecoin project Diem officially shuts down

Meta has officially given up on its stablecoin project Diem after more than two years of efforts to launch the digital currency.

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Facebook Gives Up On Lofty Stablecoin Ambitions As Diem Sells Assets To Silvergate For $200 Million

Facebook’s ambitious cryptocurrency project has met an unceremonious end. Recent reports reveal the Diem Association will be selling the technology behind Diem stablecoin to NYSE-listed crypto bank Silvergate Capital.

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Mark Zuckerberg And Co. Consider Selling Diem / Libra, Their Stablecoin Project

Another one bites the dust. The Diem project is dead, according to Bloomberg. The report comes from anonymous sources and does its best not to assure anything. However, considering the project’s head David Marcus left the company two months ago and Diem’s convoluted history, it’s not hard to believe.

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Meta's Diem stablecoin project to be sold off amid regulatory bottlenecks

Stablecoins, digital coins pegged to a traditional currency, grew around 450% to approximately $156 billion in 2021 from 2020. Tether remains the largest stablecoin with a market capitalization of >The post Meta's Diem stablecoin project to be sold off amid regulatory bottlenecks appeared first on AMBCrypto.

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Meta’s Stablecoin Project Diem Reportedly Looking to Sell Off All Assets

Diem, the ambitious stablecoin project launched by Meta – previously known as Facebook – is reportedly considering shuttering its business, Bloomberg reports, January 26, 2022. A Mum End to Diem? Mark Zuckerberg’s Meta is considering selling all of Diem’s assets and returning the capital to investors.

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Stablecoin crypto Diem shuns its Facebook connection

Diem, a Facebook-backed crypto project, has responded to attempts by the United States Senate to shut the launch of its Novi wallet by distancing itself from the social media giant. The post Stablecoin crypto Diem shuns its Facebook connection appeared first on CryptoSlate.

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Democratic Senators Urge Facebook to Discontinue Novi, Diem Projects

A group of Democratic Senators from the US Senate have demanded that Facebook discontinue its Novi wallet pilot project. The post Democratic Senators Urge Facebook to Discontinue Novi, Diem Projects appeared first on BeInCrypto.

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Facebook’s Diem Still Faces Challenges Despite Rebrand

Facebook’s foray into blockchain technology has hit a major stumbling block after clashing with regulatory authorities. The need to curb the growing influence of stablecoins and Facebook’s existing controversies are among the reasons for the slow pace of progress of the Diem project.

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Interview With Ran Goldi, One of The Architects Behind the Facebook-led Diem, On The “Stablecoin Revolution”

Almost two years ago, social media giant Facebook set out to launch one of the most ambitious financial projects, a global stablecoin called Libra. The project took a lot of heat from regulators, lost important partners, and was believed to have been completely shut down.

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Facebook Ignores Bitcoin, Works on NFTs and Stable Coins Instead

Novi and Diem (Formerly known as Libra) underline the fact that Facebook simply doesn’t understand Bitcoin, and continues to flounder on delivering even its own stablecoin project, or a single NFT.

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Meet the Company That Wants to Bridge Crypto With Diem

When Facebook announced its Diem blockchain project, many people got excited. But unfortunately, it is a system that remains a closed loop, which is unfortunate despite the ecosystem’s potential.

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How Pontem Network Aims To Unlock Facebook’s Diem Full Potential

There are many initiatives in the blockchain industry that can complement one another rather than serve as competition. For example, the much anticipated Facebook-backed Diem blockchain is a project getting much attention.

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Facebook’s David Marcus: China’s Bitcoin Mining Crackdown ‘Great Development’ for BTC

David Marcus, head of Facebook Financial (F2) who is in charge of crypto project Diem, formerly Libra, believes that the Chinese government cracking down on bitcoin mining is “a great development” for the cryptocurrency.

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Polkadot-Based Pontem Raises $4.5M to Allow Devs to Build for Facebook’s Diem

Pontem, a framework for dApps on Facebook's Diem project, has raised $4. 5 million through a seed round, led by Mechanism Capital and Kenetic Capital. The post Polkadot-Based Pontem Raises $4.

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Facebook’s Diem Unveils Its Latest Stablecoin Plans and Strategic Move to the United States

Diem, the cryptocurrency project headed by Facebook originally known as Libra, recently announced its plans to launch a stablecoin with its focus scaled back to the United States.  The company stated earlier this year that it would be relocating its primary operations from Switzerland back to the United States, and would withdraw its payment system […]

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Facebook-Backed Crypto Project Diem Moves to US, Unveils New Launch Plan

Facebook-backed cryptocurrency project Diem, formerly Libra, is moving from Switzerland to the U. S. In collaboration with Silvergate Bank, the association, which oversees the development of the diem cryptocurrency, has unveiled a new launch plan.

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Facebook-Led Stablecoin Project, Diem, Planning A ‘Small-Scale Pilot’ in 2021

The pilot will be available to individual customers and merchants. Formerly known as Libra, the project has faced constant regulatory pressure in the past. The post Facebook-Led Stablecoin Project, Diem, Planning A ‘Small-Scale Pilot’ in 2021 first appeared on BitcoinExchangeGuide.

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Microsoft President on digital currencies: We’re not a bank and we don’t want to become a bank

With Facebook working on its digital currency project Diem, formerly known as Libra, the idea of a private entity issuing currency did not please many financial regulators. Most of them believed that The post Microsoft President on digital currencies: We’re not a bank and we don’t want to become a bank appeared first on AMBCrypto.

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New name, old problems? Libra’s rebrand to Diem still faces challenges

The Diem Association’s rebrand from Libra was supposed to herald a new day for the project, but a touted 2021 launch may not go as planned.

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Facebook’s Crypto Project Could Face Another Lawsuit Over Copyright Infringement

Facebook has come under fire for copyright infringement after renaming its Libra cryptocurrency project last week. Libra was changed to Diem in a release by the Diem Association, formerly known as the Libra Association.

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London-Based Financial App Threatens To Sue Libra Association Over Its Recent Name Switch to ‘DIEM’

Facebook-led Libra Association, which switched its name to Diem Association, faces a possible lawsuit from a London-based digital finance company bearing the same name. Is it ever going to get better for Facebook-led digital financial project, Diem Association? After a year of legal battles across the world – starting with the Senate hearing, the negative […] The post London-Based Financial App Threatens To Sue Libra Association Over Its Recent Name Switch to ‘DIEM’ first appeared on BitcoinExchangeGuide.

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Bitcoin (BTC) price takes a breather as Facebook hopes to launch Diem and Novi next year

Bitcoin (BTC) price has dipped to trade below $19,000 as Facebook’s top executive says its rebranded cryptocurrency project will be launched next year. Fundamental analysis: Facebook hopes to launch in 2021 David Marcus, the head of Facebook Financial, said that he hopes to have both Diem and Novi launched over the course of the next year.

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Facebook may face a lawsuit over its crypto project's rebranding

Facebook has been having a tough time dodging lawsuits with respect to its crypto-project. The social media giant rebranded its crypto project from Libra to Diem and announced it on 1 December. HoweveThe post Facebook may face a lawsuit over its crypto project's rebranding appeared first on AMBCrypto.

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Carpe ‘Diem’: Lawsuit threatened over Facebook’s Libra rebrand plan

Facebook’s plan to rebrand its stablecoin project from Libra to Diem has been met with legal threats from a small European startup of the same name.

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Facebook's Libra Cryptocurrency Project Undergoes Rebranding

Libra digital currency project was suddenly renamed Diem. The purpose of the rebranding is to distance itself from the social network Facebook and obtain organizational independence.

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Facebook’s Libra rebrands to Diem

In what can be viewed as a  strategic play, the Libra crypto project has…

The post Facebook’s Libra rebrands to Diem appeared first on Coin Journal.

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Facebook’s Stablecoin Libra Is Rebranded to Appease Global Regulators

In an attempt to get on regulators’ good books, Facebook’s stablecoin project, Libra, has been rebranded to Diem. Libra Gets a New Name According to Reuters on Tuesday (Dec. 1, 2020), the Libra project underwent a name change and would now be known as “Diem”.

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Libra Rebrands to Diem; Plans to Launch Early 2021

Facebook-led Libra Association announced December 1, 2020, that it was changing its name to Diem. This is as it stays on course to launch a dollar-backed stablecoin in early 2021. This is coming after several months of abandonment of the initial project.

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Facebook’s Libra Renamed ‘Diem’ Amid Plans for Stablecoin Launch 2021

Since its announcement in mid-2019, regulators have railed against Libra, arguing that the project could upend global monetary policy control protocols. Indeed, Libra’s emergence likely provided the catalyst for more serious considerations surrounding central bank digital currencies (CBDCs).

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Facebook-Led Libra Rebrands to ‘Diem’ in Attempt for a ‘New Start’ & Gain Regulatory Approval

Facebook has rebranded its stablecoin project Libra as “Diem” in its latest effort to gain regulatory approval. The new name comes after the Latin word “day” — denoting “a new day for the project.

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Libra rebrands to Diem, hoping to shake off associations

The project is hoping that a new name will help people forget the mass regulatory panic that drowned out Libra's initial announcement.

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