According to the official message published on the Diem website https://www.diem.com/en-us/updates/stuart-levey-statement-diem-asset-sale /, all assets and intellectual property rights of the project are transferred to the American bank Silvergate.
Obviously, the deal is the completion of attempts for Mark Zuckerberg company to create a payment network Diem, which previously had the name Libra before the rebranding.
I think this was expected because the majority of company partners who joined the project left it before changing it from Libra to Diem. The reasons are still unknown for the community. Also this made another question about the metaverse which will surely need a virtual currency as well. People thought about Diem to be used for maintaining it but now there should be another solutions to find a better alternative .Obviously, the deal is the completion of attempts for Mark Zuckerberg company to create a payment network Diem, which previously had the name Libra before the rebranding.
Somebody shouted abandon ship even when theyre not the captain. Whats surprising is that a company bought it. Facebook has no development actually for more than 2 years because of this LibraDiem project. All they did in that 2 years was integrate instagram and nothing else.
They are up again to try another way which is Meta. But there is also many competing in this category so they are jammed together to compete.
