Značka: mark zuckerberg

Zuckerberg's Diem reportedly weighing sale after stablecoin plans falter

Meta-backed crypto initiative “Diem” is reportedly trying to sell its assets, seemingly calling time on Facebook founder Mark Zuckerberg’s grand ambitions for a stablecoin to act as the internet’s currency. Diem — which was previously known as Libra — is Meta Platform’s cryptocurrency initiative. According to insider sources speaking with Bloomberg, it is considering selling assets to return capital to its investors. The sources said that Diem is in discussions with investment bankers to determine the best way to sell its intellectual property and cash out on whatever value the project has maintained. It’s unclear how the company will be valued, and there is no guarantee that they will be able to find a buyer. According to the source, about a third of the venture is owned by Meta. The remainder is owned by members of the association and partners, which include Coinbase Global, Uber and Shopify. Diem has sparked no shortage of controversies in its short time of existence since launching on June 18, 2019. Libra, as it was known at the time, intended to be maintained by a Switzerland-based consortium of companies called the “Libra Association.”However, news of the project’s launch triggered immediate pushback from the U.S. government and regulators around the world, who cited concerns regarding privacy and monetary sovereignty. Both Facebook CEO Mark Zuckerberg and former Libra head David Marcus testified before the House Financial Services Committee.Related: New name, old problems? Libra’s rebrand to Diem still faces challengesAt one July hearing in 2019, Senator Sherrod Brown of Ohio asked Marcus, “do you really think people should trust Facebook with their hard-earned money?” “If our country fails to act, we could soon see a digital currency controlled by others whose values differ radically from ours,” Marcus responded. Deterred by regulatory scrutiny, many partners began to abandon the project altogether, eventually including Marcus himself. It was at this point it rebranded to Diem, hoping to shake off the mass regulatory panic that drowned out Libra’s initial announcement.

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Okcoin hires former Facebook spokesperson Randi Zuckerberg to grow female user base

Cryptocurrency exchange Okcoin has announced Randi Zuckerberg — the sister of Meta CEO Mark Zuckerberg — will be joining the platform’s brand advisory council in its aim to bring more women into crypto.In a Thursday announcement, Okcoin said that in addition to hiring Zuckerberg, the exchange would be committing $1 million in an attempt to reach a 50% female user base by 2025. Zuckerberg was the former director of market development and a spokesperson for Facebook until she resigned in 2011, moving on to start her own social media firm in addition to founding the Zuckerberg Institute — a program aimed at educating business leaders, entrepreneurs and students. “Crypto and this new era of wealth creation should be open to everyone,” said Zuckerberg in a video promoting her move to the crypto exchange. “I’ve joined Okcoin’s advisory council to support that mission and bring more women into the world of crypto.”Had so much fun filming this video (complete with a cameo from my toddler) and over the moon to be working with @Okcoin to get more women into the crypto space https://t.co/FtURPcFcSt— Randi Zuckerberg (@randizuckerberg) December 2, 2021With the hiring of Zuckerberg, Okcoin will have many women in key leadership positions at the exchange, including CEO Hong Fang as well as head of content and brand Mandy Campbell. Fang told Cointelegraph last year the crypto exchange had seen a significant influx of women in 2020, with 50% of female users to the platform in the first quarter being new. “Historically, women and other marginalized groups have been locked out of the traditional financial system,” said Fang on the $1 million commitment. “Cryptocurrency is turning this norm on its head through the wealth-creating opportunities created by decentralized finance, but we’re still seeing lower adoption among women.”Related: Women-led events may encourage long-term female participation in blockchainFounded in 2013, Okcoin is one of the world’s oldest crypto exchanges and has steadily expanded to serve customers in more than 190 countries. Though its headquarters are based in the United States, the exchange secured regulatory approval to operate in Malta and the Netherlands in July.

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