The Diem Association, formerly known as Libra, is reportedly in talks over selling off its assets to return capital to investors.
The stablecoin project spearheaded by Meta—formerly known as Facebook—appears to be winding down for good.
The project’s members include a few dozen of the world’s biggest tech companies and investors, including Uber, a16z, Temasek, Spotify, Coinbase and Ribbit Capital — although it’s unclear which of Diem’s members actually invested in the project. It is a muted end to a project that burst onto the scene in 2019 with a bold plan to create a new form of stablecoin destined for use within Meta’s family of apps and beyond.
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