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Author Topic: Diem tells Senators on the warpath over Novi: We're not actually Facebook  (Read 1052 times)

Offline Tnoy30

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In response to a letter from the U.S. calling on Facebook to halt its stablecoin and crypto wallet projects, Diem stated that it “is not Facebook. We are an independent organization” Stablecoin project Diem has distanced itself from its Facebook in response to Democrat Senators calling for the immediate cessation of the firm’s Novi crypto wallet.

Diem also claimed senior regulators had called it “the best-designed stablecoin project that the U.S. government had seen.”

In an Oct. 19 letter sent to Facebook CEO Mark Zuckerberg, the Senators including crypto critic Elizabeth Warren, voiced their “strongest opposition to Facebook’s revived effort to launch a cryptocurrency and digital wallet.”
Source: Diem tells Senators on the warpath over Novi: We're not actually Facebook


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Offline Fenix

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Re: Diem tells Senators on the warpath over Novi: We're not actually Facebook
« Reply #1 on: November 11, 2021, 10:16:11 AM »
If they answer that they have nothing to do with Facebook, this position will need to be maintained further. It will be possible to insert a Diem stablecoin into the Novi wallet for work. However, both these senators and regulators in general will continue to closely monitor the events and will not allow Facebook and Diem to merge in any form. I'm wondering how Zuckerberg will get out of this situation further.

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Offline Senin

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Yes, we have already seen how such an excuse ended. Zuckerberg thought he could outsmart everyone. For several years, he took different steps: I renamed the name of the project and my stablecoin, registered in Switzerland and other places, created a separate wallet in order to insert my Diem into it over time, and nothing happened. The regulators kept a close eye on him everywhere. So he gave up and sold his project.

Offline MrSpasybo

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Currently we no longer hear any new information about Diem and its team has been split into several smaller projects. I'm really worried about Diem's future, Meta might have abandoned it.
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