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Virtual currency: Facebook abandons its cryptocurrency

31/01/2022
Categories: Economy/Forex

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Facebook no longer risks putting its own cryptocurrency into circulation. GadgetsNow, which announces the information, indicates that Meta has simply abandoned its project.

Diem Association was sold to Silvergate Capital, a Californian company, for the modest sum of 200 million dollars. This resale comes shortly after David Marcus, who was chief financial officer at Diem, abandoned the project and moved to greener lands. Today, we learn that Meta has simply abandoned his project.

As a reminder, Meta Platforms Inc has been working for some time now on a new company: Diem Association. The purpose of this was to create the Libra cryptocurrency, which would then be used on the platform.

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