After reporting that Meta Platforms’ (NASDAQ: FB) ambitious stablecoin project Diem is winding down, a WSJ report stated that the failing project has a suitable buyer in Silvergate Capital Corp. (SI). Meta is selling the Diem technology to Silvergate Capital for $200 million. Shares of FB spiked more than 6% during the extended trading session yesterday. Meanwhile, SI shares also rose almost 3% during the extended trading session, following the news. Silvergate Capital- Diem’s Suitable Buyer The Diem Association was founded in 2019 (formerly Libra) to issue a more convenient and stable digital currency, which was labeled diem coins.
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