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Meta Reportedly Abandons Diem Stablecoin Project After Intense Government Opposition
Meta Reportedly Abandons Diem Stablecoin Project After Intense Government Opposition After surviving a major re-branding and fierce opposition from regulators and central bankers, Facebook's effort to create a global stablecoin usable on its platform has reportedly been scrapped, according to a Bloomberg report. BBG reported late Tuesday that Facebook-owner Meta has been looking for a buyer for its Diem project after the Federal Reserve and several powerful American lawmakers (incl
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