Meta's Diem thinking of selling assets and IP as stablecoin plans fail
Diem Association — formerly known as Libra — is discussing with investment bankers to determine the best way to sell its intellectual property to cash out on whatever value the project has maintained, Bloomberg News reported, citing people familiar with the matter
By Arghyadeep Dutta
Published - Jan 26, 2022, 04:54 PM ET
Last Updated - Feb 14, 2024, 09:11 AM EST
• Diem, an initiative to develop a stablecoi , is reportedly trying to sell its assets to return capital to its investors
• David Marcus, who co-founded Diem and headed Meta’s digital wallet Novi, left the company last year
Meta Platforms Inc (NASDAQ: FB) backed controversial crypto project Diem, an initiative to develop a stablecoin that Mark Zuckerberg once defended in front of Congress, is reportedly trying to sell its assets to return capital to its investors.
The Diem Association — formerly known as Libra — is discussing with investment bankers to determine the best way to sell its intellectual property to cash out on whatever value the project has maintained, Bloomberg News reported, citing people familiar with the matter.
