Nuked The diem association set up by Facebook to manage the digital token is exploring a sale of its assets. More than two years ago, the Facebook-sponsored cryptocurrency formerly known as Libra appears to be coming to an end.
The U.S. Federal Reserve’dealt the effort a final blow’. By putting pressure on silvergate, the banking partner diem said it was partnering with last year to launch the token.
Diem association spokesperson Michael Crittenden said Bloomberg’s story contained’some factual errors’. But a diem spokesperson declined to comment further.
Libra was originally meant to be a digital token backed by a basket of currencies from around the world. But regulators quickly halted that idea, so a simplified design was created, pegging a rebranded diem token to the US dollar.
