Mark Zuckerberg's cryptocurrency dream gets over! Sells Diem for around $200 mn to Silvergate
Shortpedia
Content Team
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Facing regulatory hurdles, the cryptocurrency dream of Meta CEO Mark Zuckerberg is officially over as the company has sold its digital coin known as Diem for around $200 million to Silvergate, a crypto-focused bank. Originally launched as Libra and later renamed as the Diem Association, the cryptocurrency initiative faced regulatory backlash, and the US Federal Reserve was a key opponent to Diem launching.
