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Facebook to launch crypto currency

Facebook to launch crypto currency

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Topic News Type Telecommunications.

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Facebook to launch cryptocurrency for FB users
After sustained opposition in Washington, Facebook is shuttering its Diem cryptocurrency project after a years-long effort to push into one. Initially, the dream was for Libra to be like bitcoin, a currency owned by no one group and built on open-source technology. This would allow. The Diem Association is aiming to launch a pilot with a single stablecoin pegged to the U.S. dollar in , according to a person familiar.

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In January , Silvergate announced in their earnings call for Q4 that they were writing down their entire investment in Diem. Download as PDF Printable version. The goal would be to ensure that the technology and reserve system operate as expected, he added.