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It appears that the day was seized from Diem Association, the cryptocurrency initiative spearheaded by Meta.
Peter Rudegeair and Liz Hoffman of The Wall Street Journal reported that the Diem Association is selling its technology to small, bitcoin- and blockchain-focused California bank Silvergate Capital for roughly $200 million.
Liana Baker, Jesse Hamilton and Olga Kharif of Bloomberg reported earlier this week that the Diem Association was in talks with investment bankers about the best approach to selling its intellectual property in order to return capital to its investors, as well as finding new roles for the engineers who worked on the technology.
A spokesperson for the Diem Association said Bloomberg’s story contained “some factual errors” but would not elaborate further.
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