Meta Announces Layoffs Amid Reality Labs Restructuring
Meta, the parent company of Facebook, has reportedly announced layoff’s as part of its Reality Labs restructuring plans. Meta, the parent company of Facebook, has announced a substantial restructuring of its Reality Labs division. The division will be divided into two distinct groups: Metaverse and Wearables. It is important to note that this action is […]
Meta reportedly incurs losses of over $10 billion for the year 2021
Meta reported disappointing fourth-quarter financial results on Wednesday, sending its stock down more than 20% in after-hours trade. For the quarter, the firm formerly known as Facebook reported rapidly rising costs and expenses, as well as almost $3 billion in operational losses for its new Reality Labs business unit. Meta also forecasted lower-than-expected sales for […]
Silvergate Enters the Unsuccessful Diem Project With a $200 Million Offer
Silvergate Bank rescues Diem, also known as Facebook Coin, by purchasing the assets of the failed project. Diem’s debut was earlier thought to be contingent on receiving regulatory permission in the United States by Facebook founder Mark Zuckerberg. In a news release issued on Monday, Diem CEO Stuart Levey claimed that officials had turned down the proposal. “it nevertheless became clear from our dialogue with federal regulators that the project could […]
Diem was a Waste of Time, Meta Should’ve Focused on BTC says Twitter Founder
Many of Meta’s products, like Facebook Messenger, Instagram, and WhatsApp, would benefit from easier access to BTC stated Jack Dorsey. On Tuesday, MicroStrategy CEO Michael Saylor spoke with Dorsey about how businesses might integrate and use Bitcoin at his company’s “Bitcoin for Corporations 2022” conference (BTC). Should Facebook Focus on Meta ? Although Facebook launched Diem for “the right motives,” Dorsey believes it should have instead chosen an open-ended technology like […]
Facebook’s Diem reportedly explores ways to sell its assets
Diem, a stablecoin crypto project supported by Meta, after facing regulatory scrutiny and executive departures, is reportedly attempting to sell its assets and put an end to the plan for the stablecoin to serve as the internet’s currency. Diem is Meta Platform’s cryptocurrency project, which was previously known as Libra . It is considering selling […]