Diem Mulling Sale of Assets to Pay Back Investors: Report

Diem Mulling Sale of Assets to Pay Back Investors: Report
The Diem Association, the Meta Platforms (formerly Facebook)-led group behind the creation of a stablecoin, is considering the sale of the project’s assets to return money to investors, Bloomberg reported on Tuesday, citing unnamed sources. The group has been speaking with investment bankers about selling Diem’s intellectual property and helping the developers of Diem technology find new places to work, Bloomberg reported, citing its sources. Meta CEO Mark Zuckerberg had high hopes for the cryptocurrency, defending the vision of the project before a Congressional hearing, but the initiative has had a rocky history since its unveiling in June 2019 as…