Meta Platforms Stock News

Meta Platforms Inc. (NASDAQ: FB ) is winding down its Diem cryptocurrency project and selling its technology to cryptocurrency-focused bank Silvergate Capital Corp. (NYSE: SI ) for about $200 million, the Wall Street Journal reported , citing a person familiar with the matter. What Happened: It was reported earlier by Bloomberg that Meta CEO Mark Zuckerberg is exploring a sale of Diem. Diem, unlike the apex cryptocurrency Bitcoin (CRYPTO: BTC ), was proposed as a so-called stablecoin. Metas choice of Silvergate Full story available on Benzinga.com

Facebook (which is now known as Meta Platforms) launched its cryptocurrency project in 2019 - called Libra. Wall Street Journal: The Diem Association, the consortium Facebook founded in 2019 to build a futuristic payments network, is winding down and selling its technology to a small California

US Stocks: ELLIOTT WAVE ANALYSIS Tesla (TSLA) Amazon (AMZN) Apple (AAPL) Alphabet (GOOGL) Facebook (FB) Meta Platforms (META) Microsoft (MSFT) JPMorgan

The Diem Association, formerly known as Libra, is selling its technology to crypto-focused bank Silvergate Capital for $200 million.

Stock futures power higher with the Fed and earnings in focus; Chairman Jerome Powell likely to signal a series of 2022 rate hikes, with the first expected in March; Microsoft''s solid near-term sales outlook offsets a muted Q2 earnings report; Tesla Q4 earnings on deck, with delivery targets and production timelines in focus and Facebook''s ''Libra'' stablecoin project is reportedly on the brink of collapse.

The ambitious Diem stablecoin project launched by Facebook (now Meta) appears to be running out of steam as the association behind it is weighing the sale of its assets.

The association that Facebook, now Meta, set up to govern the cryptocurrency formerly known as Libra is reportedly looking to sell off its assets.

Meta Reportedly Abandons Diem Stablecoin Project After Intense Government Opposition After surviving a major re-branding and fierce opposition from regulators and central bankers, Facebook''s effort to create a global stablecoin usable on its platform has reportedly been scrapped, according to a Bloomberg report. BBG reported late Tuesday that Facebook-owner Meta has been looking for a buyer for its Diem project after the Federal Reserve and several powerful American lawmakers (including notably Sens. Sherrod Brown and Elizabeth Warren) produced enough resistance to the project to leave it finally dead in the water. At one point, a couple of Democratic senators sent threatening letters to people involved with the project. The Diem Association, a cryptocurrency initiative once known as Libra backed by Meta Platforms Inc., is weighing a sale of its assets as a way to return capital to its investor members, according to people familiar with the matter. Diem is in discussions with investment bankers about how best to sell its intellectual property and find a new home for the engineers who developed the technology, cashing out whatever value remains in its once-ambitious Diem coin venture, said the people, asking not to be identified because the discussions aren’t public.

A report by the Wall Street Journal reveals users of Facebooks free internet service, which the company deploys in developing nations, have been unknowingly getting charged.

The tech giant''s shares have fallen more than 10% so far this year. Is this a buying opportunity?

Meta Inc (formerly Facebook) is exploring plans to allow users to create, showcase and sell non-fungible-tokens (NFTs) on Facebook and Instagram.

Facebook''s parent company Meta says it has created what it believes is among the fastest artificial intelligence supercomputers running today

Facebook''s parent company Meta said the array of machines could process images and video up to 20 times faster than their current systems.Meta said the machine, known as AI Research SuperCluster (RSC), was already in the top five fastest supercomputers and would become the fastest AI machine in the world when fully built in the next few months

Meta Platforms (FB) is providing a more detailed look at its reorganized financial reporting structure ahead of an earnings report coming next week

Facebook''s parent company Meta says it has created what it believes is among the fastest artificial intelligence supercomputers running today