{"id":1885611,"date":"2022-01-26T06:16:00","date_gmt":"2022-01-26T11:16:00","guid":{"rendered":"https:\/\/www.finextra.com\/newsarticle\/39583\/meta-considers-selling-off-diem-assets-as-zuckerbergs-crypto-ambitions-crumble?utm_medium=rssfinextra&amp;utm_source=finextrafeed"},"modified":"2022-01-26T06:16:00","modified_gmt":"2022-01-26T11:16:00","slug":"meta-considers-selling-off-diem-assets-as-zuckerbergs-crypto-ambitions-crumble","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/meta-considers-selling-off-diem-assets-as-zuckerbergs-crypto-ambitions-crumble\/","title":{"rendered":"Meta considers selling off Diem assets as Zuckerberg&#8217;s crypto ambitions crumble"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"https:\/\/platoaistream.net\/wp-content\/uploads\/2022\/01\/meta-considers-selling-off-diem-assets-as-zuckerbergs-crypto-ambitions-crumble.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p> Facebook is reportedly mulling the sale of Diem assets as regulatory pressure mounts against Mark Zuckerberg&#8217;s cryptocurrency project. <\/p>\n<div id=\"ctl00_ctl00_body_mainContent_NewsActicle_pnlBody\" readability=\"57\"> Citing anonymous source, Bloomberg reports that The Diem Association is looking at selling its assets and intellectual property as a means to return capital to investors.<\/p>\n<p>Originally planned as a global private cryptocurrency, the project was scaled back following political and regulatory pressure and a new idea floated, pegging a rebranded Diem token to the US dollar. <\/p>\n<p>In May, Diem said an affiliate of the firm, Silvergate Bank, would be the one to issue the Diem USD stablecoin. However, the Federal Reserve threatened to ice Silvergate, effectively dealing a final blow to Meta&#8217;s ambitions.<\/p>\n<p>The writing was already on the wall in December, when David Marcus quit as the boss of Meta&#8217;s fintech unit after leading a frustrating effort to launch the Novi digital wallet and its associated stablecoin. <\/p>\n<p>According to Bloomberg, Diem is speaking with investment bankers on a fire sale of its assets and seeking to find new homes for the engineers who developed the tech. <\/p>\n<\/div>\n<p> <a href=\"https:\/\/www.finextra.com\/newsarticle\/39583\/meta-considers-selling-off-diem-assets-as-zuckerbergs-crypto-ambitions-crumble?utm_medium=rssfinextra&#038;utm_source=finextrafeed\">Source: https:\/\/www.finextra.com\/newsarticle\/39583\/meta-considers-selling-off-diem-assets-as-zuckerbergs-crypto-ambitions-crumble?utm_medium=rssfinextra&#038;utm_source=finextrafeed<\/a><\/p>\n","protected":false},"author":1,"featured_media":1594380,"template":"","meta":{"_eb_attr":"","type":"","auto_type":false,"post":"","stream":"","stream_url":"","waveform_data":[],"duration":0,"start":0,"end":0,"bpm":0,"downloadable":false,"download_url":"","purchase_title":"","purchase_url":"","post-count-all":0,"like_count":0,"download_count":0,"editor_note":"","copyright":"","captions":[],"sources":[]},"genre":[10658],"station_tag":[5002,9181,3683,8803,3882,3826,3887,4989,3641,3767,45727,4156,9482,19562,3835,4249,4304,7061,453,4271,4782,4563,4907,3901,4074,3650,5429,3906,9430,4404,3698,3700,3734,3735,9169,3657,24364,5176,4105,4212,4020,4409,8298,4390,9421,4458,10530,5778,3925,3930,4036,3984,4509,3985,3757,3941,11461,467],"artist":[43568],"mood":[],"activity":[],"_links":{"self":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/station\/1885611"}],"collection":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/station"}],"about":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/types\/station"}],"author":[{"embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/media?parent=1885611"}],"wp:term":[{"taxonomy":"genre","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/genre?post=1885611"},{"taxonomy":"station_tag","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/station_tag?post=1885611"},{"taxonomy":"artist","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/artist?post=1885611"},{"taxonomy":"mood","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/mood?post=1885611"},{"taxonomy":"activity","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/activity?post=1885611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}