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Facebook’scrypto project Diem could be ending

(Last Updated On: January 26, 2022)

It looks like Mark Zuckerburg and Facebook are finally dumping Dmiem the crypto currency stable coin. It had something to do with regulators putting pressure on the bank:

The U.S. Federal Reserve “dealt the effort a final blow” by putting pressure on Silvergate, the banking partner that Diem said it was partnering with last year to launch the token, Bloomberg reports. I’ve also heard from someone involved that the Fed threatened Silvergate, putting the launch on ice.

This is why there Is another reason why Facebook is going heavy on the new Metaverse since their credibility has been shot with their data snooping tactics. Also, it seems there will a presidential executive order coming to regular crypto. There is a general theme many countries are banning crypto outrifght including India, Russsia, and China.

I think the majority large performing crypto coins found on Binance should continue to do ok. This is despite the crazy volatility we have been seeing recently.

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