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 […]