Explore our new Generative AI Database, featuring 35+ companies leading the sector.Read more

Briefing
crypto facebook

Diem, the Crypto Project Backed by Meta Platforms, Sell Assets to Crypto Bank Silvergate Capital for $200 million

By
Hannah Miller
· · Source: The Wall Street Journal

The Diem Association, a crypto initiative backed by Facebook-parent Meta Platforms, is selling its technology to crypto-focussed bank Silvergate Capital for $200 million, The Wall Street Journal reported. The sale comes as regulatory pressure endangered its stablecoin ambitions, according to Bloomberg . The move signals the total collapse of the Diem project, which has long faced delays and...

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Dealmaker venture capital
Google, Nvidia and Microsoft Offer What VCs Can’t
By Kate Clark · June 1, 2023 1:16 PM PDT
Photo by Getty
Welcome back,Amid all the hype for generative artificial intelligence, some venture capitalists have refused to join the fray. These young companies need so much capital and so much computing resources, the VC skeptics say, that they’ll have little chance of competing against Google, Amazon and other big tech companies that may soon have similar products.Our recent reporting this week was a...
Latest Briefs
 
SpaceX Wins Pentagon Contract for Ukraine 
By Becky Peterson · June 1, 2023
Trian Chief Investment Officer and Co-Founder Ed Garden to Step Down
By Maria Heeter · June 1, 2023
Meta Calls Employees Back to Office Three Days a Week
By Sylvia Varnham O'Regan · June 1, 2023
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Art by Clark Miller
The AI Age e-commerce ai
How to Grease a Chatbot: E-Commerce Companies Seek a Backdoor Into AI Responses
By Chris Stokel-Walker
When Andy Wilson’s company received its first successful client referral through ChatGPT, he was shaken to his core.
Chris Britt, co-founder and CEO of Chime.
Exclusive startups Finance
Chime’s Slowdown Highlights Limits of Bank Disruptors
By Mark Matousek and Erin Woo
Chime found a way to offer zero-fee banking services without being a bank itself. But that approach is starting to show its limits.
Art by Clark Miller.
Exclusive startups crypto
MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
By Aidan Ryan
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.
Art by Clark Miller
The Big Read markets Finance
The Master of Destruction Rides Again
By Michelle Celarier
In the spring of 2022, the irascible Wall Street short seller Marc Cohodes was in a particularly foul mood.
Tim Cook. Photo by Bloomberg
Exclusive apple ar/vr
Apple’s Learning Curve: How Headset’s Design Caused Production Challenges
By Wayne Ma
If Apple unveils its long-awaited mixed-reality headset next week as expected, it will represent the company’s riskiest gamble on a new product since the iPhone.
Nvidia CEO Jensen Huang. Photo by Bloomberg
semiconductors ai
Why Nvidia Aids Cloud Rivals of AWS, Google and Microsoft
By Anissa Gardizy
Nvidia’s business of selling chips for artificial intelligence is going gangbusters, but the company faces a looming problem.