[ad_1]
Meta, formerly Facebook, is reportedly in talks with investment bankers to sell its assets in cryptocurrency project Diem, formerly Libra. The USD diem stablecoin was supposed to be issued by Silvergate Bank, but it failed to gain regulatory approval.
Meta is reportedly looking for buyers for the Diem Crypto project
Mark Zuckerberg’s Meta, formerly Facebook, is trying to sell its assets in cryptocurrency project Diem, formerly Libra, Bloomberg reported Tuesday, citing people familiar with the matter.
Meta owns about a third of the company; the rest belongs to other members of the Diem association, one of the people said.
Association Diem is considering a sale of its assets as a way to return capital to its member investors, the people explained. They added that Diem is in talks with investment bankers about selling its intellectual property and finding a new home for the project’s engineers.
The association announced a partnership with Silvergate Bank in May last year for the bank to become the exclusive issuer of the Diem USD stablecoin.
However, people noted that the bank’s regulator told Silvergate that he was not comfortable with Diem’s launch plan and could not assure the bank that it would allow this. activity.
Facebook first unveiled the Libra crypto project in June 2019. Since then, it has come under intense scrutiny from regulators around the world, forcing some partners to drop the project, including Visa, MasterCard and Paypal.
Libra later changed its name to Diem. David Marcus, who led the company’s Diem efforts, stepped down in late 2021.
Tags in this story facebook, facebook cryptocurrency, facebook selling diem, facebook selling libra, facebook stablecoin, libra, mark zuckerberg, meta, meta crypto, meta cryptocurrency, meta sell diem, meta stablecoin, sell libra
What do you think about Meta trying to sell its assets in the Diem crypto project? Let us know in the comments section below.
Kevin Helms
Image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is provided for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
More popular newsIn case you missed it
|
Sources 2/ https://news.bitcoin.com/mark-zuckerbergs-meta-sell-assets-crypto-project-diem/ The mention sources can contact us to remove/changing this article |
[ad_2]