Cryptocurrency Report
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Altcoin
  • Blockchain
  • Analysis
  • DeFi
  • NFT
  • ICO
  • Videos
What's Hot

Bitcoin and Ethereum Trim Gains, BTG and ETC Outperform

August 12, 2022

Ripple Reportedly Eyes Celsius’ Assets, New Crypto Rule from SEC, Risky Metaverse + More News

August 12, 2022

Fallout from crypto contagion subsides but no market reversal just yet

August 12, 2022
Facebook Twitter Instagram
  • Advertise
  • Privacy
  • Contact
  • Terms
Facebook Twitter Instagram LinkedIn
Cryptocurrency Report
  • Home
  • News
    1. Bitcoin
    2. Ethereum
    3. Altcoin
    4. View All

    Bitcoin and Ethereum Trim Gains, BTG and ETC Outperform

    August 12, 2022

    Crypto Awareness at 76% in Spain – Survey

    August 12, 2022

    BlackRock Doubles Down on Bitcoin, UNCTD vs. Crypto, DoJ Not Happy With Celsius + More News

    August 12, 2022

    No ‘Black and White’ Answer to the Proof-of-Work vs. Proof-of-Stake Question, Says Kraken

    August 12, 2022

    Ethereum’s Vitalik Buterin Lists ‘Worthwhile’ Ideas for Developers to Work On

    August 12, 2022

    Iran Goes Crypto, Ethereum Classic Camp Is Against Ethereum PoW Fork + More News

    August 11, 2022

    Reddit Community Points Ready for the Ethereum Mainnet Move

    August 10, 2022

    ‘Most Significant Legal Action’ Against Crypto in US, Hodlnaut Halts Withdrawals, Zipmex Releases Ethereum & Bitcoin + More News

    August 9, 2022

    Ripple Reportedly Eyes Celsius’ Assets, New Crypto Rule from SEC, Risky Metaverse + More News

    August 12, 2022

    Bitcoin and Ethereum Correct Gains, Altcoins Turn Red Too

    August 12, 2022

    Tornado Cash Ban Blows Winds of Both Division and Unity Through Crypto Community

    August 11, 2022

    Crypto Listing and Delisting Announcements: Week 32

    August 11, 2022

    Bitcoin and Ethereum Trim Gains, BTG and ETC Outperform

    August 12, 2022

    Ripple Reportedly Eyes Celsius’ Assets, New Crypto Rule from SEC, Risky Metaverse + More News

    August 12, 2022

    Fallout from crypto contagion subsides but no market reversal just yet

    August 12, 2022

    FTX partners with Paradigm for ‘one-click’ futures spread trading

    August 12, 2022
  • Blockchain
  • Analysis
  • DeFi
  • NFT
  • ICO
  • Videos

    The Crypto Metaverse is Growing RAPIDLY! (INSANE MICROSOFT BUY)

    January 18, 2022

    BEST Crypto Safety Guide 101 (Keep Your $$ SAFE with Passphrases)

    January 18, 2022

    SHOCKING: Microsoft Enters the CRYPTO METAVERSE!!! (HUGE $69 Billion CASH Buy)

    January 18, 2022

    URGENT NEWS For Cardano Holders!! (MUST Watch Before Jan 20)

    January 17, 2022

    ⚠️ WARNING To All Bitcoin Holders ⚠️ (Time is RUNNING OUT!!!)

    January 17, 2022
  • bitcoinBitcoin(BTC)
    $42,304.00-0.92% 24H
    BITCOIN
    24H : -0.92%
    Volume : $18,001,823,455.00
    Marketcap : $804,136,324,461.00
  • ethereumEthereum(ETH)
    $3,187.18-1.80% 24H
    ETHEREUM
    24H : -1.80%
    Volume : $11,828,130,842.00
    Marketcap : $383,283,409,099.00
  • tetherTether(USDT)
    $1.000.020% 24H
    TETHER
    24H : 0.020%
    Volume : $42,292,952,195.00
    Marketcap : $82,566,134,570.00
  • binancecoinBNB(BNB)
    $416.19-2.16% 24H
    BNB
    24H : -2.16%
    Volume : $1,421,783,549.00
    Marketcap : $69,948,357,062.00
  • usd-coinUSD Coin(USDC)
    $0.9980.110% 24H
    USD COIN
    24H : 0.110%
    Volume : $3,215,590,549.00
    Marketcap : $50,856,931,622.00
  • solanaSolana(SOL)
    $110.52-1.25% 24H
    SOLANA
    24H : -1.25%
    Volume : $1,326,948,052.00
    Marketcap : $36,230,891,086.00
  • rippleXRP(XRP)
    $0.744-2.62% 24H
    XRP
    24H : -2.62%
    Volume : $2,611,405,064.00
    Marketcap : $35,798,721,281.00
  • cardanoCardano(ADA)
    $1.02-1.97% 24H
    CARDANO
    24H : -1.97%
    Volume : $735,911,632.00
    Marketcap : $32,692,285,870.00
  • terra-lunaTerra(LUNA)
    $87.96-7.21% 24H
    TERRA
    24H : -7.21%
    Volume : $2,091,404,457.00
    Marketcap : $31,224,000,667.00
  • avalanche-2Avalanche(AVAX)
    $79.94-4.23% 24H
    AVALANCHE
    24H : -4.23%
    Volume : $651,461,780.00
    Marketcap : $21,345,345,382.00
  • polkadotPolkadot(DOT)
    $18.98-3.96% 24H
    POLKADOT
    24H : -3.96%
    Volume : $522,492,664.00
    Marketcap : $20,904,948,600.00
  • dogecoinDogecoin(DOGE)
    $0.147-0.35% 24H
    DOGECOIN
    24H : -0.35%
    Volume : $1,709,936,369.00
    Marketcap : $19,528,083,067.00
  • binance-usdBinance USD(BUSD)
    $0.9990.100% 24H
    BINANCE USD
    24H : 0.100%
    Volume : $3,031,521,102.00
    Marketcap : $17,907,585,119.00
  • terrausdTerraUSD(UST)
    $1.000.00% 24H
    TERRAUSD
    24H : 0.00%
    Volume : $710,407,989.00
    Marketcap : $16,759,326,710.00
  • shiba-inuShiba Inu(SHIB)
    $0.000024-0.91% 24H
    SHIBA INU
    24H : -0.91%
    Volume : $622,427,689.00
    Marketcap : $13,391,607,837.00
  • wrapped-bitcoinWrapped Bitcoin(WBTC)
    $42,263.00-1.06% 24H
    WRAPPED BITCOIN
    24H : -1.06%
    Volume : $205,987,180.00
    Marketcap : $11,648,041,723.00
  • crypto-com-chainCronos(CRO)
    $0.437-1.87% 24H
    CRONOS
    24H : -1.87%
    Volume : $43,191,918.00
    Marketcap : $11,045,868,142.00
  • nearNEAR Protocol(NEAR)
    $15.96-4.67% 24H
    NEAR PROTOCOL
    24H : -4.67%
    Volume : $1,001,407,008.00
    Marketcap : $10,603,423,829.00
  • staked-etherLido Staked Ether(STETH)
    $3,182.92-1.85% 24H
    LIDO STAKED ETHER
    24H : -1.85%
    Volume : $8,945,498.00
    Marketcap : $10,259,684,260.00
  • matic-networkPolygon(MATIC)
    $1.43-2.09% 24H
    POLYGON
    24H : -2.09%
    Volume : $379,202,804.00
    Marketcap : $9,786,905,958.00
Cryptocurrency Report
Home » Silvergate Bank Reportedly Aims to Buy Diem’s Intellectual Property for USD 200M
Altcoin

Silvergate Bank Reportedly Aims to Buy Diem’s Intellectual Property for USD 200M

CryptoReporterBy CryptoReporterJanuary 27, 2022No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
Source: AdobeStock / Wirestock

 

American chartered bank Silvergate reportedly aims to purchase Diem‘s intellectual property for USD 200m, The Wall Street Journal reported, citing people familiar with the matter.

The Diem Association (previously known as Libra Association) is a Meta-led project that initially aimed to create a global digital currency.

Back in May, Silvergate Bank partnered with Diem to issue Diem USD, a stablecoin pegged to the US dollar – a deal meant to calm the regulators. Since the bank serves blockchain companies, the agreement was expected to help the already struggling project gain some strength. However, the US Federal Reserve remained skeptical and didn’t show the green light for the plan.

On Wednesday, reports suggested that Diem is trying to sell its assets in a bid to return capital to its investors.

This sale reported on today “represents an effort to squeeze some remaining value from a venture that was challenged almost from the start,” the article said.

Meta (aka Facebook) allegedly owns about one-third of the project, and the remainder is owned by uncited venture capital firms and technology companies.

The Libra project, unveiled in mid-2019, was initially backed by 18 top tech companies and venture capital firms, including Mastercard, PayPal, Booking Holdings, eBay, Andreessen Horowitz, Breakthrough Initiatives, and Ribbit Capital. However, following a massive regulatory backlash, some of the partners started leaving the project.

In December 2020, the Libra project rebranded to Diem and drew back from its ambitious goals, but still couldn’t stop the regulatory criticism. When the project launched a pilot program for its digital wallet Novi in October 2021, it received major backlash as well.

Specifically, in a letter to Zuckerberg, five US Senators said Facebook “cannot be trusted to manage a payment system or digital currency when its existing ability to manage risks and keep consumers safe has proven wholly insufficient.”

____

Learn more:
– Meta-Led Diem Reportedly Aims to Sell Assets to Pay Back Investors
– Facebook’s New Stablecoin Aims a ‘Big Comedown’ from Grand Libra Plans

– Facebook’s Libra Rebrand Hits Another Name-Change Snag as UK Diem Lawyers up
– Facebook Launches USD 50M Investment In Metaverse Research, Partnerships

– Meta’s AI Supercomputer to ‘Pave the Way’ Towards Building the Metaverse
– NFTs Might Reach Facebook & Instagram as Meta Mulls NFT Marketplace – Report

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ripple Reportedly Eyes Celsius’ Assets, New Crypto Rule from SEC, Risky Metaverse + More News

August 12, 2022

Bitcoin and Ethereum Correct Gains, Altcoins Turn Red Too

August 12, 2022

Tornado Cash Ban Blows Winds of Both Division and Unity Through Crypto Community

August 11, 2022

Crypto Listing and Delisting Announcements: Week 32

August 11, 2022

Hong Kong Police Publish Details of USDT Fraud Case in Effort to Raise Public Awareness of Crypto Scams

August 10, 2022

Bitcoin Tests USD 24K, Ethereum Eyes USD 1.8K, Altcoins Rally

August 9, 2022
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Bitcoin and Ethereum Trim Gains, BTG and ETC Outperform

August 12, 2022

Ripple Reportedly Eyes Celsius’ Assets, New Crypto Rule from SEC, Risky Metaverse + More News

August 12, 2022

Fallout from crypto contagion subsides but no market reversal just yet

August 12, 2022

Subscribe to Updates

Get the latest sports news and analysis about crypto coins and the latest news about domains from Techie Memo.

Advertisement

Your number 1 source for all Cryptocurrency news and analysis. here you can follow all updates and latest rates for all currencies. Visit our about page for more information.

We're social. Connect with us:

Facebook Twitter Instagram YouTube LinkedIn
Top Insights

Bitcoin and Ethereum Trim Gains, BTG and ETC Outperform

August 12, 2022

Ripple Reportedly Eyes Celsius’ Assets, New Crypto Rule from SEC, Risky Metaverse + More News

August 12, 2022

Fallout from crypto contagion subsides but no market reversal just yet

August 12, 2022
Get Informed

Subscribe to Updates

Get the latest sports news and analysis about crypto coins.

Facebook Twitter Instagram LinkedIn
  • Guest Post
  • Privacy Policy
  • Terms & Conditions
  • Contact
© 2022 Cryptocurrency Report. Designed by Sawah Dev.

Type above and press Enter to search. Press Esc to cancel.