Mark Zuckerberg sold his cryptocurrency project Diem to Silvergate Bank

[Ozero]

Oh that’s something new now. Mark is always attachy with courts and government since the beginning of Facebook I believe. I am not sure why he did this but looks like some sort of pressure or may be a internal deal that they cracked. This is definitely not as per his roadmap I am pretty sure about that. If he wanted to create a payment system under his subsidiary then why the bank is involved by taking full charge of the same? Isn’t it is strange. I mean there are platforms like payer, PayPal, UPI systems which work independently but with banks. He could have done that easily!

As far as I understand, the bank bought part of the Diem project, which was owned by Zuckerberg, in order to revive and launch it. If the Diem stablecoin is not linked to Facebook, then regulators will certainly not be against its appearance. In this case, it would be logical to assume that the bank will also buy out the remaining shares of this project.
However, the cunning of Zuckerbrg himself is not at all ruled out in this deal. It may well turn out to be a deceptive move for regulators. The bank may officially launch Diem, and after some time Zuckerberg may again appear in it.

[Findingnemo]

For real? If yes, then it could be actually due to the government made them to do it anyway Facebook made money by selling the project instead of simply closing it but the ban which actually bought can create their own instead of buying an another project.

Thanks for the info man.

Most probably this is the reason for the sell, because they know that it won't take off because the government will stop it at all cause.

So the best way to still make money out of the project is to sell it with the IP and everything associate with it. Still they make money, and then the new owner will have the responsibility now on how to market this one to the public without any government agencies on their neck.

Since its bought by bank they will launch it no matter its from government owned bank or private backed government regulated bank because they are all in connection so they can do whatever they want. Yesterday I saw videos related after knowing from this thread and they also said the same reason why Mark sold the project.

[khiholangkang]

According to the official message published on the Diem website https://www.diem.com/en-us/updates/stuart-levey-statement-diem-asset-sale /, all assets and intellectual property rights of the project are transferred to the American bank Silvergate.

Obviously, the deal is the completion of attempts for Mark Zuckerberg company to create a payment network Diem, which previously had the name Libra before the rebranding.

If Diem/Libra from Facebook (Meta) is sold, then what currency will be used on Metaverse? Is Mark Zuckeberg going to make a new token again?

[tvplus006]

As far as I understand, the bank bought part of the Diem project, which was owned by Zuckerberg, in order to revive and launch it. If the Diem stablecoin is not linked to Facebook, then regulators will certainly not be against its appearance. ..

Obviously, the regulator was not satisfied with the fact that Facebook would become a major player in the global financial system, thanks to its huge audience, which could potentially become users of the Diem stablecoin. But Zuckerberg still has the opportunity to return to the cryptocurrency through Metaverse.

[zaim7413]

If Diem/Libra from Facebook (Meta) is sold, then what currency will be used on Metaverse? Is Mark Zuckeberg going to make a new token again?

This is still a conversation among people who like cryptocurrencies, but for now it seems very vague about what currency Mark Zuckeberg will use for the new project, but for Libra and Meta projects I think Mark should also clarify Zuckerberg himself.