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Meta-backed Diem Association Confirms Asset Sale

By
Sylvia Varnham O'Regan
· · Source: Bloomberg

Silvergate Capital Corporation has acquired the assets of the Diem Association, a crypto initiative backed by Meta Platforms, according to Bloomberg. The sale marks the end of the social media company’s beleaguered cryptocurrency project after a period of regulatory pressure and executive exits. Plans for the sale were first reported last week by the Wall Street Journal  and Diem CEO Stuart...

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