Facebook Diem

Meta (formerly Facebook) has spent years building its digital wallet, “Novi”, with plans to launch its stablecoin cryptocurrency called “Diem”. However, David Marcus – board member of Diem and Head of Novi – recently announced that he is leaving the company. David Marcus Steps Down The co-founder announced his resignation over a Twitter thread on Tuesday, detailing his reasons for stepping down. He said he’d had a change of heart and that his “entrepreneurial DNA” is nudging him away from…

Amazon and Facebook are some of the biggest technology companies globally. Furthermore, the two giant companies have substantially impacted billions of internet users. One did it through Facebook's pioneering and massively successful social media platform. Meanwhile, Amazon used its enormous e-commerce platform and cloud computing services to change the retail market forever.  Both Amazon and Facebook have made several steps in the cryptosphere. Also, they are both pushing for the adoption of cryptocurrencies and blockchain technology. Both have been instrumental in…

Facebook-backed Diem might launch this year based on a recent report. The report, citing a source undisclosed, said the Diem Association plans to launch a small pilot with a single "stablecoin," pegged to the US dollar, later this year. The association has indicated that it has relocated its significant activities to the United States from Switzerland. It has also withdrawn its application to the Swiss Financial Regulator for payments. CNBC also said that if Diem's pilot is introduced this year,…