Silvergate Announces Its Digital Currency Plan and Writes Off $196 Million In Crypto Acquisitions
Silvergate announced in February last year that it had purchased Diem Group, a Facebook-affiliated business, along with its intellectual property and other technological assets required to operate the blockchain-based payments system. In 2021, Facebook decided to end its digital currency project due to pressure from regulatory and political authorities. Silvergate’s Crypto Ambitions Silvergate
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