Diem (Libra)
Shut DownStablecoin · $DIEM · born 2019 · ✝ 2022
Meta's global stablecoin, regulated into oblivion before launch.
Diem, originally Libra, was Facebook/Meta's ambitious global stablecoin project. After years of regulatory resistance it never launched at scale and its assets were sold to Silvergate in 2022.
- Peak
- Backed by Meta + Diem Association
- Cause
- Shut Down
- Year of death
- 2022
☠️ Cause of death
Sustained pushback from global regulators and central banks over monetary sovereignty and money-laundering concerns; partners exited and Meta wound the project down, selling the IP.
📓 Lessons left behind
- —A private global money supply triggers intense regulatory resistance.
- —Big-tech backing cannot override sovereign monetary policy concerns.
- —Partner consortiums dissolve quickly under regulatory pressure.
🌱 The idea that survived
Regulated stablecoins
Compliant fiat-backed stablecoins like USDC carried forward the digital-dollar idea Diem could not ship.
#stablecoin#regulation#bigtech