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Benzinga
Benzinga
Business
Madhukumar Warrier

This Cathie Wood Portfolio Company Is Buying The Tech Of Facebook's Diem As Latter Abandons The Crypto Project: WSJ

Meta Platforms Inc. (NASDAQ:FB) is winding down its Diem cryptocurrency project and selling its technology to cryptocurrency-focused bank Silvergate Capital Corp. (NYSE:SI) for about $200 million, the Wall Street Journal reported, citing a person familiar with the matter.

What Happened: It was reported earlier by Bloomberg that Meta CEO Mark Zuckerberg is exploring a sale of Diem.

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