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CoinGape

2023-01-05 13:48:12

Silvergate Ditches Its Digital Currency Plan; Writes Off $196 Mn In Crypto Acquisition

Silvergate Ditches Its Digital Currency Plan; Writes Off $196 Mn In Crypto Acquisition

In February of last year, Silvergate officially announced the purchase of Diem Group, a Facebook-affiliated company along with its intellectual property & other technological assets necessary to operate the blockchain-based payment system. Facebook abandoned its digital currency project in 2021 in response to persistent pressure from political and regulatory authorities. Silvergate’s Crypto Ambitions Silvergate was The post Silvergate Ditches Its Digital Currency Plan; Writes Off $196 Mn In Crypto Acquisition appeared first on CoinGape .

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