Zuckerberg’s stablecoin ambitions unravelling

After Zuckerberg was called to testify, some partners abandoned the project and it changed its name to Diem.

NEW YORK: The controversial cryptocurrency project that Mark Zuckerberg once defended in front of Congress is unravelling after regulatory pressure.

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 sources.