Diem stablecoin co-founder praises Bitcoin for censorship resistance
Meta’s Diem co-creator David Marcus said that he was a “big fan of Bitcoin,” calling it digital gold back in 2019. Shortly after Meta, formerly Facebook, officially gave up on its stablecoin Diem, some of the key people in the project have become increasingly vocal about the uncensorable nature of Bitcoin (BTC).David Marcus, a co-founder of Diem, originally known as Libra, took to Twitter on Tuesday to predict that Bitcoin will be the number one asset in the next two decades.It’s become clear to me that #Bitcoin will be the one asset and L1 still around in 20+ years with increased....
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In response to a letter from the U.S. calling on Facebook to halt its stablecoin and crypto wallet projects, Diem stated that it “is not Facebook. We are an independent organization” Stablecoin project Diem has distanced itself from its Facebook in response to Democrat Senators calling for the immediate cessation of the firm’s Novi crypto wallet.Diem also claimed senior regulators had called it “the best-designed stablecoin project that the U.S. government had seen.”In an Oct. 19 letter sent to Facebook CEO Mark Zuckerberg, the Senators including crypto critic Elizabeth Warren, voiced....
Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system. The payment totaled $182 million. The technology and assets acquired will reportedly be used for the launch of a Silvergate branded stablecoin.
Silvergate Purchases Diem Operations
Silvergate Capital, a payments services company, has acquired Diem, a stablecoin payments system originally put in motion by Facebook (now Meta), to integrate it into its operations. The announcement was made on....
Facebook-backed cryptocurrency project Diem, formerly Libra, is moving from Switzerland to the U.S. In collaboration with Silvergate Bank, the association, which oversees the development of the diem cryptocurrency, has unveiled a new launch plan. Facebook-Backed Stablecoin Has New Launch Plan The Diem Association announced Wednesday a partnership between Diem Networks U.S. and Silvergate Capital Corporation (NYSE: SI). Silvergate is a California state-chartered bank and a member of the Federal Reserve. Diem Networks U.S. is a wholly-owned subsidiary of the association. It plans to register....
Facebook-initiated Diem Association announces a new model of its upcoming stablecoin that is set to be issued by California state-chartered bank Silvergate. Facebook-backed digital currency project, the Diem Association, has partnered with cryptocurrency-friendly bank Silvergate to launch a stablecoin pegged to the United States dollar.Diem announced Wednesday a new model of its upcoming stablecoin, relocating its main operations from Switzerland to the United States and withdrawing its application for a payment system license from the Swiss Financial Markets Authority.The association,....
An anonymous source has told reporters that the first Diem pilot will focus on transactions between individual consumers. Facebook-backed digital currency project Diem could yet launch its first stablecoin in 2021 as a small-scale pilot, according to an anonymous source. Cited in a CNBC report published on April 20, the source claimed that the Switzerland-based nonprofit The Diem Association is still intending to launch its pilot for a United States dollar-backed stablecoin later this year. Back in Nov. 2020, the association had already announced its plans for a limited launch of a....