Facebook Unloads Crypto Unit Diem to Silvergate Capital for $200M
January 27, 2022

Facebook is unloading its cryptocurrency unit, Diem Association, to Silvergate Capital for an estimated $200 million, The Wall Street Journal (WSJ) reported Thursday (Jan. 27), citing unnamed sources with insider information. Now rebranded as Meta Platforms, Facebook launched its blockchain-based payment system and cryptocurrency project in...

Facebook Eyes Sale of Diem Assets
January 25, 2022

Meta CEO Mark Zuckerberg is seeing the demise of his cryptocurrency project due to regulatory pressures, Bloomberg reported Tuesday (Jan. 25). The Diem Association, which used to be known as Libra and which is backed by Meta, is looking at selling its assets as a...

Facebook’s Parent Meta Promises to Make Friends With Blockchain
December 26, 2021

Facebook parent company Meta wants to have much more compatibility with blockchain technology, The New York Times reports. In a note to employees, future chief technology officer Andrew Bosworth, who will take that job next year, went over a new vision including much more focus...

Facebook Forked Over $60M to Acquire Trademark Assets from Meta Financial Group
December 15, 2021

Facebook recently closed a $60 million deal to purchase the trademark assets of Meta Financial Group after the social media giant renamed its company Meta, spokespeople for both companies told Reuters. The rebranding to the Meta name is meant to reflect Facebook’s focus on the...

Facebook Testing ‘Split Payments’ Feature in Messenger
December 03, 2021

Splitting shared payments can be difficult, whether it’s quickly dividing up a dinner bill for several people or wrangling everyone’s share of rent in shared accommodation. These are a common enough struggles, and ones Facebook says it wants to help ease. As part of a...

Facebook Faces Lawsuits Over Alleged Privacy Violations  
December 02, 2021

Social media giant Facebook could face potential litigation from European consumer groups stemming from its collection of personal information related to games available on the app in 2012, according to a Thursday (Dec. 2) report from Reuters.   The lawsuits — should they be filed —...

David Marcus Departs Facebook, Along With the Last Remnant of Libra’s Battered Brand
December 01, 2021

The announcement that David Marcus is leaving the company formerly known as Facebook marks the departure of the last name associated with its Libra stablecoin debacle. As the head of what was then called the Calibra wallet (now Novi), Marcus headed up the launch of...

Meta Crypto Head David Marcus Departs Company to Pursue Own Ideas
November 30, 2021

Facebook parent Meta’s crypto head, David Marcus, is leaving the company at the end of the year, CNBC reported. Marcus had been a member of the company since August 2014, according to the report. At that time, his role was vice president of the Messenger...

Facebook’s Metaverse Could Be Accompanied by Physical Stores
November 07, 2021

Facebook’s move to rebrand as Meta aspires to fold its social media world into the metaverse, but the tech giant is also said to have its ambitions rooted in the real world with rumored talks of physical retail stores, insider sources told the New York...