Facebook had great plans and great hopes for its Libra stablecoin project, but in the end, that project amounted to nothing.
According to recent reports, the Libra project, which was later renamed to the Diem project, is now apparently over. The Diem association, which was developing the project, is now in talks with various investment banks, seeking to sell its intellectual and other assets. What is more, the Diem Association is also apparently looking to relocate the software architects who created the Diem technology to different positions.
It appears that the Association is selling off its assets in order to return sufficient capital to its initial investors.
Source
This project appeared doomed almost from the start, considering the massive pushback it got from various institutions.
According to recent reports, the Libra project, which was later renamed to the Diem project, is now apparently over. The Diem association, which was developing the project, is now in talks with various investment banks, seeking to sell its intellectual and other assets. What is more, the Diem Association is also apparently looking to relocate the software architects who created the Diem technology to different positions.
It appears that the Association is selling off its assets in order to return sufficient capital to its initial investors.
Source
This project appeared doomed almost from the start, considering the massive pushback it got from various institutions.
