| Founded | 2019 |
|---|---|
| Closed | 2022 |
| Country | USA |
| Sector | Crypto |
| Total raised | $200M (Diem Association members) |
| Collapse type | Regulatory Kill |
| Founder | David Marcus, Kevin Weil |
Diem (Facebook Libra)
"Facebook's global stablecoin project raised the greatest regulatory panic in financial history and was dead before it launched"
Forced closure by regulatory action
Key Events Timeline
Facebook announced Libra in June 2019 — a global stablecoin backed by a basket of currencies, managed by a nonprofit association with 28 founding members including Visa, Mastercard, PayPal, Uber, and Spotify.
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