Diem

Meta is pulling the plug on its crypto payments wallet, Novi

Three years after Facebook announced its ill-fated push into cryptocurrency, aka the Libra project, the tech giant has signalled another scaling back of its activity — announcing Friday that Nov

Ex-Meta employees raise $200M from a16z, Tiger, Multicoin to realize Facebook’s crypto dreams

Facebook’s audacious attempt at creating a crypto payments network met an unceremonious end earlier this year when Silvergate Capital acquired the Diem technology assets for $182 million. The deal

Daily Crunch: 4 years after launch, fintech platform Esusu saddles unicorn with $130M Series B

Hello friends and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

Facebook ditches Diem stablecoin with asset sale to Silvergate

The Diem Association, a consortium of companies working on a blockchain-based payment system, is selling its technology assets to Silvergate Capital for $200 million, according to a report from the WS

Facebook’s top crypto executive David Marcus is leaving the company

Facebook parent company Meta is losing its top crypto executive later this year. David Marcus who leads crypto unit Novi and previously helmed the company’s Messenger unit, announced Tuesday tha

Facebook scales back its crypto ambitions once again

Facebook is launching a small pilot of its cryptocurrency wallet named Novi. A limited number of people in the U.S. and Guatemala can sign up to Novi and start using it. Facebook is a founding member

Cash-and-send fintech startup Diem raises $5.5M seed led by Fasanara Capital

Diem, a London, U.K.-based fintech startup, has raised a seed round of $5.5 million led by Fasanara Capital, and angel investor Chris Adelsbach, founder of Outrun Ventures. Additional investors includ