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 […]
Meta applies for a trademark to Bitcoin and crypto services in Brazil
Meta, the world’s largest social media platform, on Jan. 25 has applied for a trademark in Brazil to design, develop, and provide hardware and software for a variety of Bitcoin (BTC) and crypto-related services. Despite regulatory challenges encountered during its multiple past attempts to enter the crypto field, Meta was recently renamed from Facebook in […]
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 […]
Meta unveils its Metaverse AI supercomputer, dubbed the “Research SuperCluster”
Meta, Facebook’s parent company, claims that its new artificial intelligence (AI) “Research SuperCluster” (RSC) would “pave the way” for the Metaverse’s development and would also be the world’s fastest supercomputer upon its completion. According to a Jan. 24 blog post announcing the hardware, Facebook estimates RSC is already one of the world’s fastest supercomputers and […]