Facebook's cryptocurrency venture to wind down and sell tech assets - WSJ


FILE PHOTO: A 3D printed Facebook's new rebrand logo Meta is placed on laptop keyboard in this illustration taken on November 2, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Meta Platforms Inc's digital currency venture Diem Association is winding down and selling its technology to California-based Silvergate Capital Corp for about $200 million, the Wall Street Journal reported on Wednesday, citing a person familiar with the matter.

Meta, formerly Facebook Inc, first unveiled plans for Diem, known as Libra earlier, in June 2019, as part of an effort to expand beyond social networking into e-commerce and global payments.

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