Meta's Crypto Project Is Closing. Here's What Investors Need to Know

Nicholas Rossolillo, The Motley Fool
·4 min read

Earlier this year, Meta Platforms (NASDAQ: META) sold off its holdings in Diem Association -- the cryptocurrency project it had been working on the last few years with other tech and digital payments companies. Crypto bank Silvergate Capital (NYSE: SI) was the buyer of the Diem assets, but it was still unclear what would become of Meta's Novi digital wallet. One year after beginning a pilot program, it looks like Novi is now closing up shop and will no longer be available for use after Sept. 1, 2022.

Continue reading
  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • US probes whether recall of Tesla Autopilot driving system did enough to make sure drivers attention

    The U.S. government's auto safety agency is investigating whether last year's recall of Tesla's Autopilot driving system did enough to make sure drivers pay attention to the road. The National Highway Traffic Safety Administration says in documents posted on its website Friday that it has concerns about the December recall of more than 2 million vehicles. The agency pushed the company to do the recall after a two-year investigation into Autopilot's driver monitoring system, which measures torque on the steering wheel from a driver's hands.

  • 'Wow, probably the best burger I ever made': Grab a Ninja indoor grill for just $100 — plus other deals of the day

    Also on our cheat sheet: Spring savings from Apple, HP, Hanes and more!

  • The pension lump sum ‘emergency’ tax trap that could cost you thousands

    Building a good pension takes a lifetime of hard work, so ensuring you are making the most of every pound is essential. But an unfortunate quirk of HM Revenue & Customs’ (HMRC) system means pensioners are frequently overtaxed – since 2015, retirees have overpaid more than £1bn in income tax. Last year, HMRC overtaxed pensioners by a record £200m.

  • Marta says this will be her final year with Brazil's women's national team

    Brazilian soccer star Marta, the six-time women's world player of the year, plans to retire from the national team after this year. The 38-year-old Marta has told CNN Brasil that she hopes to play in the Olympics in Paris but said that would be her last major tournament for the national team. In the excerpts, the Orlando Pride playmaker did not say whether she plans to continue her club career in 2025.

  • Q1 2024 Allison Transmission Holdings Inc Earnings Call

    Q1 2024 Allison Transmission Holdings Inc Earnings Call

  • Analysis-Arrest of Russian defence minister's deputy may be strike by rival 'clan'

    Sergei Shoigu, Russia's defence minister, has tried to send a "business as usual" message since his deputy was arrested on a bribery charge. On the surface, the timing of the detention on Tuesday of Timur Ivanov, one of Shoigu's 12 deputy ministers, was unexpected, coming when Russia is waging war in Ukraine and the authorities have made discrediting the army a jailable offence. Allegations of graft funding a lifestyle way beyond his means made against 48-year-old Ivanov by the late opposition politician Alexei Navalny's anti-corruption foundation had been in the public domain for more than a year with no apparent fallout.

  • Co-op Live: Manchester's troubled new arena postpones opening again

    The delay-hit Co-op Live in Manchester puts back appearances by comedian Peter Kay for a second time.

  • Historic rugby club mark 150th anniversary with storied names

    Painswick Rugby Club enjoyed a day to remember as they rubbed shoulders with British & Irish Lions legends Jason Robinson and Gavin Hastings.

  • HMRC overtaxes pensioners £200m after system errors

    The taxman overcharged pensioners a record £200m last year because of “indefensible” quirks in the tax system left unfixed for a decade.

  • Q1 2024 SkyWest Inc Earnings Call

    Q1 2024 SkyWest Inc Earnings Call

  • Students block Paris' Sciences Po university over Gaza war

    Students blocked access to Paris' prestigious Sciences Po university over the war in Gaza on Friday, demanding the institution condemn Israel's actions, in a protest that echoed similar demonstrations on U.S. campuses. Chanting their support for the Palestinians, the students displayed Palestinian flags at windows and over the building's entrance. Several wore the black-and-white keffiyeh head scarf that has become an emblem of solidarity with Gaza.

  • UPDATE 1-US probes Tesla recall of 2 million vehicles over Autopilot, citing concerns

    U.S. auto safety regulators said Friday they have opened an investigation into whether Tesla's recall of more than 2 million vehicles announced in December to install new Autopilot safeguards is adequate. The National Highway Traffic Safety Administration (NHTSA) said it was opening an investigation after the agency identified concerns due to crash events after vehicles had the recall software update installed "and results from preliminary NHTSA tests of remedied vehicles." NHTSA also cited Tesla's statement "that a portion of the remedy both requires the owner to opt in and allows a driver to readily reverse it."

  • Tigers coach hopes future stars are inspired by Lions visit

    Cheltenham Tigers Rugby Club enjoyed a day to remember as they rubbed shoulders with British & Irish Lions legends Jason Robinson and Gavin Hastings.

  • Chevron's quarterly profit beats estimates

    Global oil prices were largely range bound in the first three months of 2024 despite rising geopolitical tensions, as non-OPEC members kept up supplies, while a milder winter season pushed natural gas prices to record lows. "U.S. production was up 35 percent from a year ago, and we continued to meet major project milestones," CEO Mike Wirth said in a statement. The higher production was due to the acquisition of PDC Energy, Inc and sustained strong execution in the Permian and Denver-Julesburg (DJ) Basins.

  • Dow Jones Futures: Microsoft, Google Jump; New Market Rally Still Must Do This

    Microsoft and Google jumped on earnings late after the market rally attempt showed resilience Wednesday amid Meta's sell-off.

  • Denso to sell off cross-shareholdings and use proceeds on M&A

    Toyota Motor supplier Denso plans to eventually sell all of its cross-shareholdings, its president said on Friday, as the company looks to fund acquisitions and other investments. Firms have been gradually selling down their stakes, thanks in part to a governance push by the Tokyo Stock Exchange and the government. Toyota and some other of its group companies last year sold around 8% of Denso, a move that was seen as a critical first step by the sprawling Toyota Group and heightening expectation of more sales to come.

  • Golf cart tours growing throughout Tampa Bay

    It’s one of the newest tours to hit the streets of Tampa Bay, but you’re not riding a bus, a trolley or Segway—in true Florida fashion, you're riding a golf cart. Clint Bertucci has been an international tour guide for the past 10 years, taking groups on trips all over the world. Bertucci thought, why not start a tour in his own backyard? He couldn’t wait to share his story with ABC Action News.

  • Waste Connections Inc (WCN) Q1 2024 Earnings: Surpasses Revenue Forecasts with Strategic ...

    Robust Growth and Operational Efficiency Drive Performance Beyond Analyst Expectations

  • Takeaways from AP's investigation into fatal police encounters involving injections of sedatives

    The practice of giving sedatives to people detained by police spread quietly across the nation over the last 15 years, built on questionable science and backed by police-aligned experts, an investigation led by The Associated Press has found. At least 94 people died after they were given sedatives and restrained by police from 2012 through 2021, according to findings by the AP in collaboration with FRONTLINE (PBS) and the Howard Centers for Investigative Journalism. Supporters say sedatives enable rapid treatment for drug-related behavioral emergencies and psychotic episodes, protect front-line responders from violence and are safely administered thousands of times annually to get people with life-threatening conditions to hospitals.

  • ‘Real hope’ for cancer cure as personal mRNA vaccine for melanoma trialled

    Excitement among patients and researchers as custom-built jabs enter phase 3 trial