Silvergate Announces 40% Job Cut, Halts Plans to Acquire Diem’s Assets

Silvergate has laid off 40% of its staff as fallout sparked by FTX collapse worsens amidst the crypto winter.

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Creators of Meta’s failed Diem stablecoin now launches Aptos Autumn mainnet

Aptos Labs, the creators of the failed Diem stablecoin project that Meta Platforms Inc (NASDAQ: META) had attempted to launch sometime back, on Monday successfully launched their blockchain mainnet called Aptos Autumn.

Aptos Labs used a Rust-based programming language called Move to program the mainnet’s code. The move is increasingly becoming popular among blockchain developers after being popularized by Mysten Labs’ Sui blockchain.

The Autumn blockchain is focused on Web3 with the aim of becoming the home for developers to build applications for generations to come. Aptos Labs have maintained that its blockchain’s core design principle is to focus on the developer and user experience.

The Aptos Autumn blockchain has an array of innovations a pipelined and modular approach to processing transactions, Block-STM which is a new parallel execution engine for smart contracts for faster transactions, AptosBFT Consensus mechanism, and decentralized flexibility to state synchronization.

The team is also working to quickly integrate new innovations like novel key recovery, scalable sharding solutions, and intuitive parallel programming models to scale the user experience.

While Aptos announced that its blockchain is now fully developed and ready for use, the ecosystem still has a long way to go. Organizations will have to integrate the Aptos blockchain with their wallets, trading platforms, and non-fungible token (NFT) technology to create a vast decentralized finance ecosystem.

One of the top Web3 infrastructure service providers Ankr became the first to collaborate with Aptos Autumn by joining the first group of Remote Procedure Call (RPC) to Aptos Labs.

The post Creators of Meta’s failed Diem stablecoin now launches Aptos Autumn mainnet appeared first on Invezz.

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CBDC Could Combat Market Dominance From BigTech: ECB

The ECB is considering how a CBDC could ensure that central banks retain monetary sovereignty worldwide, without being outcompeted by private cryptocurrencies.

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Delayed gratification is coming for your cryptocurrencies

Cryptocurrencies have outperformed nearly everything in the past years. Yet, only a few people have held their coins and made a lot of money by doing so. In late 2019, the cryptocurrency HEX introduced a decentralized Certificate of Deposit, in which you can lock up HEX for an amount of time of your choosing from […]

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Meta to Shut Down Novi Crypto Wallet in September

Although Meta Inc said it will end the Novi digital Wallet, the firm plans to continue executing its existing fintech goals to boost greater financial inclusion as it looks ahead to the metaverse. (Read More)

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Meta to Shut Down Digital Wallet Novi Less Than a Year After its Launch

The Mark Zuckerburg-spearheaded company has decided to pull the plug on its largely disappointing crypto project.

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Facebook Crypto Projects Fail! Here’s why DIEM and LIBRA Dumped

Facebook has been having issues launching its token. This article will look into the details of Facebook crypto and the issues encountered.

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Ex-Diem Head David Marcus Launches Crypto Startup

David Marcus, who formerly headed Facebook and Meta’s Diem stablecoin project, is founding a new crypto company. David Marcus Unveils Lightspark Marcus wrote on Twitter today that he and a...

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Diem Developers Raise $200M to Build Aptos Blockchain

Former Meta employees have secured huge funding round from crypto venture capital giants to develop their own version of the failed crypto project Diem.

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Team Behind Meta’s Diem Announces New Blockchain Project Called Aptos

After failing to succeed as Libra and Diem, some of the ex-developers announced plans to relaunch and rename the project Aptos.

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Ex-Diem Developers Announce New Aptos Blockchain

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Diem’s Downfall: From an Ambitious Single Global Digital Currency Idea to a Painful End

The once-promising cryptocurrency project Diem (Libra) ended up sold to Silvergate Capital less than three years later.

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Facebook’s DIEM Formerly Known as Libra Shuts Down Without Ever Launching

Libra was set to launch within less than a year after the announcement but it was postponed several times; then two and a half years later Libra was rebranded as Diem.

The post Facebook’s DIEM Formerly Known as Libra Shuts Down Without Ever Launching appeared first on BitPinas.

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Jack Dorsey: Meta’s Should Have Focused on Bitcoin, Not Diem

Jack Dorsey said that Meta's native crypto was a waste of time. The social media giant should have focused on Bitcoin instead.

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Jack Dorsey: Meta Should Have Focused on Bitcoin, Not Diem

Jack Dorsey said that Meta's native crypto was a waste of time. The social media giant should have focused on Bitcoin instead.

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After Purchasing Diem, Silvergate Capital Plans to Launch its Stablecoin

Mark Zuckerberg’s dream of having his digital coin is finally over as Diem was sold for about $200 million.

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Facebook Gives Up On Lofty Stablecoin Ambitions As Diem Sells Assets To Silvergate For $200 Million

Facebook’s ambitious cryptocurrency project has met an unceremonious end. Recent reports reveal the Diem Association will be selling the technology behind Diem stablecoin to NYSE-listed crypto bank Silvergate Capital. Facebook Controversial Diem Project Is Dead ZyCrypto reported earlier that the Diem Association, the Facebook-led group looking to create a stablecoin, was mulling to sell off […]

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Facebook Ditches Diem Stablecoin Plans in $200M Sale

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Meta Reportedly Shopping Its Share of Battered Stablecoin Diem

After three years of trying it seems that Meta/Facebook is pulling its support from the Diem stablecoin project - looking to sell its stake.

Continue reading Meta Reportedly Shopping Its Share of Battered Stablecoin Diem at DailyCoin.com.

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Meta’s Cryptocurrency Project Diem Could Go for Sale (Report)

The Diem Association (formerly known as Libra) is reportedly exploring ways to sell its assets.

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