Rise of Web3: Metaverse tokens surge as Meta’s share price plunges
Decentralized Metaverse tokens have made steady gains this week, despite a dump in the stock price of Meta Platforms.
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Decentralized Metaverse tokens have made steady gains this week, despite a dump in the stock price of Meta Platforms.
A bloodbath for tech stocks, oil and more rattles crypto, with Bitcoin managing to steady without significant casualties.
Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system. The payment totaled…
The Aussie businessman said that Facebook’s failure to remove the fraudulent ads featuring him and dozens of other high profile celebs was “criminally reckless.”
It only took Libra/Diem two years to come full circle from publishing its white paper to falling apart.
Meta’s Diem co-creator David Marcus said that he was a “big fan of Bitcoin,” calling it digital gold back in 2019.
Dorsey said that although Facebook probably started Diem for “the right reasons,” it should’ve used an open-ended protocol like Bitcoin rather than attempting to create its own currency.
Meta has officially given up on its stablecoin project Diem after more than two years of efforts to launch the digital currency.
“Facebook seems to be the antithesis of what actual consumers want their digital futures to look like,” said Subversive Capital Advisor founder Michael Auerbach.