Facebook’s Cryptocurrency Venture to Wind Down, Sell Assets

The Wall Street Journal2022-01-27

Diem Association is selling its technology to crypto-focused bank Silvergate Capital for $200 millionFacebook, now known as Meta Platforms, launched its cryptocurrency project in 2019 and almost ...

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CokePepsi
·2022-01-27
Crypto continue to fall?
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3
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CW8
·2022-01-27
Ok
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Wind Ng
·2022-01-27
meta meta
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1
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Annie_ann29
·2022-01-27
Like plz
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1
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HweeLing Goh
·2022-01-27
Better for FB. Focus on what you know and not chasing after what others are doing without deep understanding.
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4
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Birdykoh
·2022-01-27
@codecenmove to $zil
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1
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CIG
·2022-01-27
Let Libra sleep for a while, perhaps can wake up one day.
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6
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Derrickmin
·2022-01-27
Hmm
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3
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koolgal
·2022-01-27
It is certainly a setback for Facebook to close this chapter on Diem and move on. It is a prudent move so that it can focus its energy and resources on developing Metaverse. 🤔
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34
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Ahsiang
·2022-01-27
Omg
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3
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StLiaS
·2022-01-27
hmm
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3
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Spursian
·2022-01-27
Expected
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4
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AetherC
·2022-01-27
Ok
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2
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Facebook, now Meta Platforms Inc.,launched the project in 2019 as Libra, pitching it as a way for the social network’s billions of users to spend money as easily as sending a text message.Bloomberg earlier reported that Diem was considering selling its assets.Libra brought on well-known partners in e-commerce and payments including PayPal Holdings Inc.,Visa Inc. and Stripe Inc.— in part to signal buy-in from the finance industry and in part to distance the project from Facebook itself, which was under pressure about policing its platform. Partners agreed to join the Libra Association, a Switzerland-based group that would govern the stablecoin, and pony up millions of dollars each to develop the project.But it almost immediately ran into resistance in Washington. Officials voiced concerns about its effect on financial stability and data privacy and worried Libra could be misused by money launderers and terrorist financiers. Federal Reserve Chairman Jerome Powell said the central bank had serious concerns. Early backers dropped out, and Mark Zuckerberg was called before Congress,where he defended Facebook’s plan to bring financial services to the world’s underbanked.In 2020, the group recruited Stuart Levey, a former U.S. Treasury official and top lawyer at HSBC Holdings PLC,as chief executive and ditched the Libra name in favor of Diem.The stablecoin deal with Silvergate was part of a revamp last year meant to appease regulators.David Marcus, the Meta executive who oversaw the launch of what would become Diem, left the company last year.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9099016219,"gmtCreate":1643277849750,"gmtModify":1676533794754,"author":{"id":"3578562735972428","authorId":"3578562735972428","name":"CokePepsi","avatar":"https://community-static.tradeup.com/news/bd6ff01c131455d665669a98e034ffce","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3578562735972428","authorIdStr":"3578562735972428"},"htmlText":"Crypto continue to fall?","listText":"Crypto continue to fall?","text":"Crypto continue to fall?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9099016219","repostId":2206720890,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090724575,"gmtCreate":1643271106813,"gmtModify":1676533792977,"author":{"id":"3578367364626693","authorId":"3578367364626693","name":"CW8","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3578367364626693","authorIdStr":"3578367364626693"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090724575","repostId":2206720890,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090765350,"gmtCreate":1643270038493,"gmtModify":1676533792661,"author":{"id":"4099655394873180","authorId":"4099655394873180","name":"Wind Ng","avatar":"https://static.tigerbbs.com/9bb88bc8a0bb6a7148efd161162987b6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4099655394873180","authorIdStr":"4099655394873180"},"htmlText":"meta meta","listText":"meta meta","text":"meta meta","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090765350","repostId":2206720890,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090785579,"gmtCreate":1643269066984,"gmtModify":1676533792453,"author":{"id":"4088678216292640","authorId":"4088678216292640","name":"Annie_ann29","avatar":"https://static.tigerbbs.com/74b75bf973f051fd1f70b054cc66a45c","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"4088678216292640","authorIdStr":"4088678216292640"},"htmlText":"Like plz","listText":"Like plz","text":"Like plz","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090785579","repostId":2206720890,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090796807,"gmtCreate":1643259326507,"gmtModify":1676533791639,"author":{"id":"4103114377761650","authorId":"4103114377761650","name":"HweeLing Goh","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"4103114377761650","authorIdStr":"4103114377761650"},"htmlText":"Better for FB. Focus on what you know and not chasing after what others are doing without deep understanding.","listText":"Better for FB. Focus on what you know and not chasing after what others are doing without deep understanding.","text":"Better for FB. Focus on what you know and not chasing after what others are doing without deep understanding.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090796807","repostId":2206720890,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090798747,"gmtCreate":1643259215133,"gmtModify":1676533791627,"author":{"id":"4096621470895230","authorId":"4096621470895230","name":"Birdykoh","avatar":"https://static.tigerbbs.com/b6be32412605345eb4a22e6dc95f8a72","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"4096621470895230","authorIdStr":"4096621470895230"},"htmlText":"<a href=\"https://ttm.financial/U/4096608787891490\">@codecen</a>move to $zil","listText":"<a href=\"https://ttm.financial/U/4096608787891490\">@codecen</a>move to $zil","text":"@codecenmove to $zil","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090798747","repostId":2206720890,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090706663,"gmtCreate":1643256264470,"gmtModify":1676533791407,"author":{"id":"3583974841960176","authorId":"3583974841960176","name":"CIG","avatar":"https://static.tigerbbs.com/6c2077e2370e1ffcaca7e29b875be2be","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":1,"idStr":"3583974841960176","authorIdStr":"3583974841960176"},"htmlText":"Let Libra sleep for a while, perhaps can wake up one day.","listText":"Let Libra sleep for a while, perhaps can wake up one day.","text":"Let Libra sleep for a while, perhaps can wake up one day.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090706663","repostId":2206720890,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090708113,"gmtCreate":1643256044341,"gmtModify":1676533791383,"author":{"id":"3580768650075144","authorId":"3580768650075144","name":"Derrickmin","avatar":"https://static.tigerbbs.com/3bb88321eb16bafea5d8794f4409690e","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":1,"crmLevelSwitch":0,"idStr":"3580768650075144","authorIdStr":"3580768650075144"},"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090708113","repostId":2206720890,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090709720,"gmtCreate":1643255578992,"gmtModify":1676533791263,"author":{"id":"3559581955535845","authorId":"3559581955535845","name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","vip":2,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":6,"crmLevelSwitch":1,"idStr":"3559581955535845","authorIdStr":"3559581955535845"},"htmlText":"It is certainly a setback for Facebook to close this chapter on Diem and move on.&nbsp; It is a prudent move so that it can focus its energy and resources on developing Metaverse. 🤔","listText":"It is certainly a setback for Facebook to close this chapter on Diem and move on.&nbsp; It is a prudent move so that it can focus its energy and resources on developing Metaverse. 🤔","text":"It is certainly a setback for Facebook to close this chapter on Diem and move on. It is a prudent move so that it can focus its energy and resources on developing Metaverse. 🤔","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":34,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090709720","repostId":2206720890,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090700085,"gmtCreate":1643255186345,"gmtModify":1676533791223,"author":{"id":"3582617881962608","authorId":"3582617881962608","name":"Ahsiang","avatar":"https://static.tigerbbs.com/310f96e7696af85ae33ece774a483d15","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3582617881962608","authorIdStr":"3582617881962608"},"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090700085","repostId":2206720890,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090475902,"gmtCreate":1643254332349,"gmtModify":1676533791152,"author":{"id":"3587035779894315","authorId":"3587035779894315","name":"StLiaS","avatar":"https://static.tigerbbs.com/d128f37c753a5fb3a7b118c38d312807","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3587035779894315","authorIdStr":"3587035779894315"},"htmlText":"hmm","listText":"hmm","text":"hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090475902","repostId":2206720890,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090472598,"gmtCreate":1643254186127,"gmtModify":1676533791175,"author":{"id":"3581492375026564","authorId":"3581492375026564","name":"Spursian","avatar":"https://static.tigerbbs.com/bd332da0e4d462454b47379f7c650220","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581492375026564","authorIdStr":"3581492375026564"},"htmlText":"Expected","listText":"Expected","text":"Expected","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090472598","repostId":2206720890,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9090443253,"gmtCreate":1643250789809,"gmtModify":1676533790801,"author":{"id":"3582258408396089","authorId":"3582258408396089","name":"AetherC","avatar":"https://static.tigerbbs.com/0e9d2b2288d3ec3cb10339c5902876c8","vip":1,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":5,"crmLevelSwitch":0,"idStr":"3582258408396089","authorIdStr":"3582258408396089"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090443253","repostId":2206720890,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":155,"commentSize":13,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false}}