Audit log

Every state-changing event for Libra / Diem: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-08-11 12:19:07Z
   Score: ? → ? (no score change)
   anchorpending

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   {"actor":"system:backfill","investigation_id":"d6865fa7-7035-47a3-833c-fd51e578d379","kind":"publish","page_slug":"libra-diem","published_at":"2026-08-11T12:19:06.892Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Libra / Diem","sections":[{"content":"Facebook announced the Libra cryptocurrency project on June 18, 2019, publishing a whitepaper that described a permissioned blockchain-based payment network. The initial design called for Libra to be backed by a reserve of sovereign currencies — including the U.S. dollar, euro, Japanese yen, British pound sterling, and Singapore dollar — and short-term government securities, with the goal of providing a stable, low-cost payment medium accessible to unbanked and underbanked populations globally. The project was governed by the Geneva-based Libra Association, a not-for-profit consortium in which founding members each paid $10 million for a validator node and one vote. Facebook's own participation was channeled through a subsidiary, Calibra (later renamed Novi), which was intended to build a digital wallet integrated into WhatsApp, Messenger, and as a standalone application. At launch, the Libra Association had 28 founding members including Mastercard, Visa, PayPal, Stripe, Uber, Lyft, Spotify, eBay, Vodafone, Coinbase, and venture capital firms Andreessen Horowitz and Union Square Ventures.","heading":"Project Origins and Structure","severity":"low","sources":[{"credibility":2,"name":"A Brief History Of Libra — PYMNTS.com","type":"news_article","url":"https://www.pymnts.com/cryptocurrency/2019/a-brief-history-of-facebook-libra/"},{"credibility":2,"name":"Facebook Announces Libra Cryptocurrency and Calibra Wallet — Lexology","type":"news_article","url":"https://www.lexology.com/library/detail.aspx?g=d04b6ae9-96a3-44d0-a26e-445dfe032a12"},{"credibility":1,"name":"Deconstructing Facebook's Libra — Yale Journal on Regulation","type":"research","url":"https://www.yalejreg.com/nc/deconstructing-facebooks-libra-by-marcelo-m-prates/"}]},{"content":"The announcement provoked an immediate and unprecedented regulatory response. Within weeks, French Finance Minister Bruno Le Maire asked G7 central bank governors to produce a report on Libra's risks. U.S. congressional committees moved rapidly to schedule hearings. On July 16, 2019, David Marcus, head of Calibra at Facebook, testified before the Senate Committee on Banking, Housing, and Urban Affairs. Senator Sherrod Brown opened remarks by stating, 'Facebook has demonstrated through scandal after scandal that it doesn't deserve our trust.' Marcus testified that Facebook would not launch Libra until all regulatory concerns were addressed. On July 17, 2019, Marcus also appeared before the House Financial Services Committee. Maxine Waters, Chairperson of the House Financial Services Committee, called on Facebook to halt development of Libra entirely. On October 23, 2019, Facebook CEO Mark Zuckerberg testified before the House Financial Services Committee in a hearing entitled 'An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors.' Lawmakers from both parties expressed dissatisfaction; the committee's top Republican, Rep. Patrick McHenry, stated after six hours of questioning that 'I'm not sure that we've learned anything new here.' Regulatory concerns centered on: potential destabilization of national currencies and monetary sovereignty; money laundering and terrorist financing risks; data privacy given Facebook's record; and systemic financial risk from a network operating at Facebook's scale of approximately 2.7 billion users.","heading":"Regulatory Backlash and Congressional Hearings","severity":"high","sources":[{"credibility":1,"name":"David Marcus Senate Banking Committee Testimony, July 16, 2019","type":"official","url":"https://www.banking.senate.gov/imo/media/doc/Marcus%20Testimony%207-16-19.pdf"},{"credibility":1,"name":"Mark Zuckerberg House Financial Services Committee Testimony, October 23, 2019","type":"official","url":"https://docs.house.gov/meetings/ba/ba00/20191023/110136/hhrg-116-ba00-wstate-zuckerbergm-20191023-u1.pdf"},{"credibility":2,"name":"Facebook's Libra Comes Under Fire In Senate Hearing — Forbes","type":"news_article","url":"https://www.forbes.com/sites/jackkelly/2019/07/16/facebooks-libra-comes-under-fire-in-senate-hearing-heres-why-congress-is-terrified/"},{"credibility":2,"name":"Zuckerberg Grilled by US Lawmakers Over Libra — Al Jazeera","type":"news_article","url":"https://www.aljazeera.com/economy/2019/10/23/zuckerberg-grilled-by-us-lawmakers-over-libra"},{"credibility":2,"name":"Zuckerberg's testimony left lawmakers just as concerned about Libra — CNBC","type":"news_article","url":"https://www.cnbc.com/2019/10/23/lawmakers-were-still-concerned-about-libra-after-zuckerberg-testimony.html"},{"credibility":2,"name":"Here's why regulators are so worried about Facebook's digital currency — CNBC","type":"news_article","url":"https://www.cnbc.com/2019/09/19/heres-why-regulators-are-so-worried-about-facebooks-digital-currency.html"}]},{"content":"In early October 2019, a cascade of high-profile founding members withdrew from the Libra Association in the weeks leading up to the Association's formal charter signing ceremony in Geneva. PayPal was the first major payment company to depart, announcing its withdrawal on October 4, 2019. On October 11, 2019 — less than a week before the Geneva signing ceremony — Visa, Mastercard, eBay, Stripe, and Mercado Pago also announced their exits. The departures were attributed to regulatory pressure and concern over reputational and compliance risks. Two Democratic senators had written directly to Visa, Mastercard, and Stripe warning that participation could carry significant regulatory repercussions. Despite losing five major payment-industry partners, the Association's remaining members proceeded with the charter signing on October 14, 2019. Vodafone subsequently departed in January 2020.","heading":"Partner Departures (October 2019)","severity":"high","sources":[{"credibility":2,"name":"PayPal withdraws from Facebook's Libra cryptocurrency — CNBC","type":"news_article","url":"https://www.cnbc.com/2019/10/04/paypal-withdraws-from-facebooks-libra-cryptocurrency.html"},{"credibility":2,"name":"Facebook's libra cryptocurrency coalition is falling apart as eBay, Visa, Mastercard and Stripe jump ship — CNBC","type":"news_article","url":"https://www.cnbc.com/2019/10/11/ebay-drops-out-of-facebook-libra-cryptocurrency-one-week-after-paypal.html"},{"credibility":2,"name":"Mastercard, Visa, eBay and Stripe follow PayPal's suit and leave Facebook's Libra — FinTech Futures","type":"news_article","url":"https://www.fintechfutures.com/2019/10/mastercard-visa-ebay-and-stripe-follow-paypals-suit-and-leave-facebooks-libra/"},{"credibility":2,"name":"PayPal withdraws from Facebook's Libra crypto project — Banking Dive","type":"news_article","url":"https://www.bankingdive.com/news/facebook-libra-visa-mastercard-paypal-stripe-charter-waver/564209/"}]},{"content":"On April 16, 2020, the Libra Association published a revised whitepaper — commonly referred to as Libra 2.0 — that represented a significant departure from the original design in an effort to address regulatory concerns. The revised proposal replaced the original multi-currency basket stablecoin with a network supporting multiple single-currency stablecoins, each backed 1:1 by cash and short-term government securities denominated in the relevant currency (e.g., LibraUSD, LibraEUR, LibraGBP). A multi-currency composite token (LBR) would remain but would be composed of the single-currency stablecoins rather than a direct basket of currencies. The revision was explicitly designed to address concerns about monetary sovereignty, with the whitepaper stating the network should 'integrate smoothly with local monetary and macroprudential policies and complement existing currencies.' On the same date, the Libra Association formally applied for a payment system licence from the Swiss Financial Market Supervisory Authority (FINMA). FINMA acknowledged the application and stated that it would impose 'additional requirements for services posing increased risks.'","heading":"Libra 2.0 Whitepaper and Structural Pivot (April 2020)","severity":"medium","sources":[{"credibility":1,"name":"Libra Whitepaper v2.0, April 2020 — ACCC (Australian Competition and Consumer Commission)","type":"official","url":"https://www.accc.gov.au/system/files/public-registers/documents/54.%20Libra%20Whitepaper%20v2.0,%20April%202020.pdf"},{"credibility":1,"name":"FINMA initiates licensing process for Libra Association — FINMA","type":"regulatory","url":"https://www.finma.ch/en/news/2020/04/20200416-mm-libra/"},{"credibility":2,"name":"Libra 2.0: What's Changed — CoinTracker","type":"news_article","url":"https://www.cointracker.io/blog/libra_v2"}]},{"content":"On December 1, 2020, the Libra Association announced it was rebranding as the Diem Association, and the currency would be renamed Diem (from the Latin word for 'day'). Facebook's digital wallet subsidiary Calibra had already been renamed Novi earlier in 2020. The explicit intent of the rebrand was to distance the project from Facebook and signal a new strategic direction to regulators. Diem CEO Stuart Levey stated the name 'kind of [conveys] a new day for the project.' The structural shift from a global multi-currency basket stablecoin to single-currency stablecoins — initiated in the April 2020 whitepaper update — continued to be the defining feature of the rebranded project.","heading":"Rebrand to Diem (December 2020)","severity":"low","sources":[{"credibility":2,"name":"Facebook-backed Libra Association has been renamed Diem — CNBC","type":"news_article","url":"https://www.cnbc.com/2020/12/01/facebook-backed-libra-digital-currency-has-been-renamed-diem.html"},{"credibility":2,"name":"Facebook's Libra Renamed To Diem Prior To Stablecoin Launch — Forbes","type":"news_article","url":"https://www.forbes.com/sites/jasonbrett/2020/12/02/facebooks-libra-renamed-to-diem-prior-to-stablecoin-launch/"},{"credibility":2,"name":"Libra rebrands to Diem as it attempts to gain independence from Facebook — FXStreet","type":"news_article","url":"https://www.fxstreet.com/amp/cryptocurrencies/news/libra-rebrands-to-diem-as-it-attempts-to-gain-independence-from-facebook-202012020831"},{"credibility":2,"name":"Facebook-backed Diem aims to launch digital currency pilot in 2021 — CNBC","type":"news_article","url":"https://www.cnbc.com/2021/04/20/facebook-backed-diem-aims-to-launch-digital-currency-pilot-in-2021.html"}]},{"content":"In October 2021, Facebook launched a limited pilot of its Novi digital wallet in the United States and Guatemala. Notably, the pilot did not use the Diem stablecoin — which had still not received regulatory clearance — and instead used the Paxos Dollar (USDP), with Coinbase providing custody services. Facebook stated it intended to integrate Diem once regulatory approval was obtained. The Novi pilot itself attracted opposition: a group of U.S. senators wrote to Facebook urging it to halt the pilot, citing ongoing concerns about the company's trustworthiness with financial data. The Diem Association had targeted a 2021 launch for a pilot program but was blocked by U.S. federal banking regulators who declined to approve the project moving forward.","heading":"Novi Wallet Pilot and Continued Regulatory Obstruction (2021)","severity":"high","sources":[{"credibility":2,"name":"Facebook's Novi launches digital currency wallet pilot — Banking Dive","type":"news_article","url":"https://www.bankingdive.com/news/facebooks-novi-launches-digital-currency-wallet-pilot/608588/"},{"credibility":2,"name":"Facebook scales back its crypto ambitions once again — TechCrunch","type":"news_article","url":"https://techcrunch.com/2021/10/19/facebook-scales-back-its-crypto-ambitions-once-again/"},{"credibility":2,"name":"U.S. Senators Rise Up Against Facebook's Novi Pilot — Vixio","type":"news_article","url":"https://www.vixio.com/insights/pc-us-senators-rise-against-facebooks-novi-pilot"}]},{"content":"On January 27, 2022, reports emerged that the Diem Association was in discussions to sell its assets. On January 31, 2022, the Diem Association announced the sale of its intellectual property, technology assets, and other assets related to the Diem Payment Network to Silvergate Capital Corporation. The sale comprised $50 million in cash and approximately 1.2 million shares of Silvergate Class A common stock, for a total consideration of approximately $182 million based on Silvergate's stock price at the time. In his statement, Diem CEO Stuart Levey acknowledged that while 'a senior regulator informed us that Diem was the best-designed stablecoin project the U.S. Government had seen,' dialogue with federal regulators had made clear the project could not proceed. The Diem Association announced it would wind down operations and dissolve. On February 1, 2022, CNN Business and other outlets reported the formal dissolution. Meta confirmed the Novi wallet would also be shut down, which it was in July 2022. Silvergate had planned to use the acquired technology to launch its own dollar-backed stablecoin, but those plans were abandoned. In its final fiscal quarter before collapse, Silvergate took a $196 million impairment write-down on the Diem intellectual property — effectively a near-total loss on its $182 million acquisition. Silvergate Bank voluntarily liquidated in March 2023 following a bank run triggered in part by its exposure to FTX.","heading":"Shutdown and Asset Sale to Silvergate Capital (January–February 2022)","severity":"critical","sources":[{"credibility":2,"name":"Diem Confirms Shutdown as Silvergate Acquires the Project's Assets — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2022/01/31/silvergate-bank-confirms-diem-tech-acquisition"},{"credibility":1,"name":"Meta-Backed Diem Association Confirms Asset Sale to Silvergate — Bloomberg","type":"news_article","url":"https://www.bloomberg.com/news/articles/2022-01-31/meta-backed-diem-association-confirms-asset-sale-to-silvergate"},{"credibility":1,"name":"Statement by Diem CEO Stuart Levey on the Sale of the Diem Group's Assets to Silvergate — PR Newswire","type":"official","url":"https://www.prnewswire.com/news-releases/statement-by-diem-ceo-stuart-levey-on-the-sale-of-the-diem-groups-assets-to-silvergate-301471997.html"},{"credibility":2,"name":"Diem to end crypto project, sell its assets to Silvergate Bank for $182M — Banking Dive","type":"news_article","url":"https://www.bankingdive.com/news/diem-to-end-crypto-project-sell-its-assets-to-silvergate-bank-for-182m/617839/"},{"credibility":1,"name":"Facebook's dream of creating its own global cryptocurrency officially comes to an end — CNN Business","type":"news_article","url":"https://www.cnn.com/2022/02/01/tech/facebook-diem-association-dissolving"},{"credibility":1,"name":"Silvergate Capital Corporation Form 8-K — SEC EDGAR (Asset Purchase Press Release)","type":"regulatory","url":"https://www.sec.gov/Archives/edgar/data/1312109/000131210922000021/ex991assetpurchasepr1-31x22.htm"},{"credibility":2,"name":"Silvergate Writedown Casts Doubt on Future of Meta's Failed Stablecoin Project — Decrypt","type":"news_article","url":"https://decrypt.co/119090/silvergate-writedown-diem-meta-failed-stablecoin-project"},{"credibility":2,"name":"Facebook ditches Diem stablecoin with asset sale to Silvergate — TechCrunch","type":"news_article","url":"https://techcrunch.com/2022/01/27/facebook-reportedly-ditches-diem-stablecoin-with-asset-sale/"}]},{"content":"Despite never launching, the Libra/Diem project is widely credited with accelerating regulatory discourse around stablecoins and prompting governments and central banks to accelerate research into central bank digital currencies (CBDCs). The G7 and G20 both produced formal analyses of Libra's systemic risks. The Financial Stability Board and the Bank for International Settlements published stablecoin risk frameworks that were directly shaped by the Libra announcement. In the United States, the project prompted draft legislation such as the 'STABLE Act' and contributed to increased congressional scrutiny of stablecoins that culminated in ongoing legislative efforts years after the project's closure. CoinDesk noted in a retrospective that 'the ghost of Libra lives on' in the form of stricter stablecoin regulatory frameworks globally.","heading":"Broader Regulatory and Policy Impact","severity":"medium","sources":[{"credibility":2,"name":"How the Diem Libra Crypto Project Changed the Conversation Around Stablecoins — Finance Feeds","type":"news_article","url":"https://financefeeds.com/how-the-diem-libra-crypto-project-changed/"},{"credibility":2,"name":"CoinDesk at 10: The Ghost of Libra Lives On — CoinDesk","type":"news_article","url":"https://www.coindesk.com/consensus-magazine/2023/05/25/coindesk-at-10-the-ghost-of-libra-lives-on"},{"credibility":2,"name":"Diem May Be Gone, but Its Legacy Lives On — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2022/02/01/diem-may-be-gone-but-its-legacy-lives-on"}]}],"sources_used":[{"credibility":1,"name":"David Marcus Senate Banking Committee Testimony, July 16, 2019","type":"official","url":"https://www.banking.senate.gov/imo/media/doc/Marcus%20Testimony%207-16-19.pdf"},{"credibility":1,"name":"Mark Zuckerberg House Financial Services Committee Testimony, October 23, 2019","type":"official","url":"https://docs.house.gov/meetings/ba/ba00/20191023/110136/hhrg-116-ba00-wstate-zuckerbergm-20191023-u1.pdf"},{"credibility":1,"name":"Libra Whitepaper v2.0, April 2020 — ACCC","type":"official","url":"https://www.accc.gov.au/system/files/public-registers/documents/54.%20Libra%20Whitepaper%20v2.0,%20April%202020.pdf"},{"credibility":1,"name":"FINMA — Libra Association licensing process announcement","type":"regulatory","url":"https://www.finma.ch/en/news/2020/04/20200416-mm-libra/"},{"credibility":1,"name":"Silvergate Capital Corporation Form 8-K — SEC EDGAR (Asset Purchase Press Release, January 2022)","type":"regulatory","url":"https://www.sec.gov/Archives/edgar/data/1312109/000131210922000021/ex991assetpurchasepr1-31x22.htm"},{"credibility":1,"name":"Statement by Diem CEO Stuart Levey on the Sale of the Diem Group's Assets to Silvergate — PR Newswire","type":"official","url":"https://www.prnewswire.com/news-releases/statement-by-diem-ceo-stuart-levey-on-the-sale-of-the-diem-groups-assets-to-silvergate-301471997.html"},{"credibility":1,"name":"Meta-Backed Diem Association Confirms Asset Sale to Silvergate — Bloomberg","type":"news_article","url":"https://www.bloomberg.com/news/articles/2022-01-31/meta-backed-diem-association-confirms-asset-sale-to-silvergate"},{"credibility":1,"name":"Facebook's dream of creating its own global cryptocurrency officially comes to an end — CNN Business","type":"news_article","url":"https://www.cnn.com/2022/02/01/tech/facebook-diem-association-dissolving"},{"credibility":1,"name":"Deconstructing Facebook's Libra — Yale Journal on Regulation","type":"research","url":"https://www.yalejreg.com/nc/deconstructing-facebooks-libra-by-marcelo-m-prates/"},{"credibility":2,"name":"PayPal withdraws from Facebook's Libra cryptocurrency — CNBC","type":"news_article","url":"https://www.cnbc.com/2019/10/04/paypal-withdraws-from-facebooks-libra-cryptocurrency.html"},{"credibility":2,"name":"Facebook's libra cryptocurrency coalition is falling apart as eBay, Visa, Mastercard and Stripe jump ship — CNBC","type":"news_article","url":"https://www.cnbc.com/2019/10/11/ebay-drops-out-of-facebook-libra-cryptocurrency-one-week-after-paypal.html"},{"credibility":2,"name":"Facebook-backed Libra Association has been renamed Diem — CNBC","type":"news_article","url":"https://www.cnbc.com/2020/12/01/facebook-backed-libra-digital-currency-has-been-renamed-diem.html"},{"credibility":2,"name":"Diem Confirms Shutdown as Silvergate Acquires the Project's Assets — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2022/01/31/silvergate-bank-confirms-diem-tech-acquisition"},{"credibility":2,"name":"Diem to end crypto project, sell its assets to Silvergate Bank for $182M — Banking Dive","type":"news_article","url":"https://www.bankingdive.com/news/diem-to-end-crypto-project-sell-its-assets-to-silvergate-bank-for-182m/617839/"},{"credibility":2,"name":"Facebook ditches Diem stablecoin with asset sale to Silvergate — TechCrunch","type":"news_article","url":"https://techcrunch.com/2022/01/27/facebook-reportedly-ditches-diem-stablecoin-with-asset-sale/"},{"credibility":2,"name":"Facebook's Libra Comes Under Fire In Senate Hearing — Forbes","type":"news_article","url":"https://www.forbes.com/sites/jackkelly/2019/07/16/facebooks-libra-comes-under-fire-in-senate-hearing-heres-why-congress-is-terrified/"},{"credibility":2,"name":"Here's why regulators are so worried about Facebook's digital currency — CNBC","type":"news_article","url":"https://www.cnbc.com/2019/09/19/heres-why-regulators-are-so-worried-about-facebooks-digital-currency.html"},{"credibility":2,"name":"Facebook's Novi launches digital currency wallet pilot — Banking Dive","type":"news_article","url":"https://www.bankingdive.com/news/facebooks-novi-launches-digital-currency-wallet-pilot/608588/"},{"credibility":2,"name":"Silvergate Writedown Casts Doubt on Future of Meta's Failed Stablecoin Project — Decrypt","type":"news_article","url":"https://decrypt.co/119090/silvergate-writedown-diem-meta-failed-stablecoin-project"},{"credibility":2,"name":"A comprehensive timeline of Silvergate's downfall — Protos","type":"news_article","url":"https://protos.com/a-comprehensive-timeline-of-silvergates-downfall/"},{"credibility":2,"name":"CoinDesk at 10: The Ghost of Libra Lives On — CoinDesk","type":"news_article","url":"https://www.coindesk.com/consensus-magazine/2023/05/25/coindesk-at-10-the-ghost-of-libra-lives-on"},{"credibility":2,"name":"How the Diem Libra Crypto Project Changed the Conversation Around Stablecoins — Finance Feeds","type":"news_article","url":"https://financefeeds.com/how-the-diem-libra-crypto-project-changed/"}],"summary":"Libra was a proposed global cryptocurrency announced by Facebook (now Meta) on June 18, 2019, initially designed as a multi-currency-backed stablecoin governed by an independent consortium called the Libra Association. The project faced immediate and sustained opposition from U.S. and international regulators, lost the majority of its founding payment-industry partners within months of announcement, underwent significant structural changes and a rebrand to Diem in December 2020, and ultimately shut down in January 2022 when the Diem Association sold its intellectual property and technology assets to Silvergate Capital Corporation for approximately $182 million. The acquired assets were subsequently written down to near zero when Silvergate itself collapsed in March 2023.","timeline":[{"date":"2019-06-18","event":"Facebook announces the Libra cryptocurrency project and publishes a whitepaper describing a multi-currency-backed stablecoin governed by the Libra Association, a Geneva-based nonprofit consortium. Calibra subsidiary announced as wallet provider.","source":"PYMNTS.com — A Brief History Of Libra","source_url":"https://www.pymnts.com/cryptocurrency/2019/a-brief-history-of-facebook-libra/"},{"date":"2019-07-16","event":"David Marcus, head of Calibra, testifies before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. Senators express deep skepticism and distrust of Facebook's ability to steward a global currency.","source":"Senate Banking Committee — Marcus Testimony","source_url":"https://www.banking.senate.gov/imo/media/doc/Marcus%20Testimony%207-16-19.pdf"},{"date":"2019-07-17","event":"David Marcus testifies before the House Financial Services Committee. Chair Maxine Waters calls for a halt to Libra development.","source":"CNBC","source_url":"https://www.cnbc.com/2019/07/17/facebooks-david-marcus-testifies-before-the-house-financial-services.html"},{"date":"2019-10-04","event":"PayPal becomes the first major founding member to withdraw from the Libra Association, citing regulatory uncertainty.","source":"CNBC","source_url":"https://www.cnbc.com/2019/10/04/paypal-withdraws-from-facebooks-libra-cryptocurrency.html"},{"date":"2019-10-11","event":"Visa, Mastercard, eBay, Stripe, and Mercado Pago announce withdrawals from the Libra Association, less than a week before the formal charter signing ceremony.","source":"CNBC","source_url":"https://www.cnbc.com/2019/10/11/ebay-drops-out-of-facebook-libra-cryptocurrency-one-week-after-paypal.html"},{"date":"2019-10-14","event":"Libra Association holds its first formal council meeting and charter signing in Geneva with remaining members.","source":"FinTech Futures","source_url":"https://www.fintechfutures.com/2019/10/mastercard-visa-ebay-and-stripe-follow-paypals-suit-and-leave-facebooks-libra/"},{"date":"2019-10-23","event":"Facebook CEO Mark Zuckerberg testifies before the House Financial Services Committee on Libra and other topics for approximately six hours. Lawmakers from both parties express continued concern.","source":"House Financial Services Committee — Zuckerberg Testimony","source_url":"https://docs.house.gov/meetings/ba/ba00/20191023/110136/hhrg-116-ba00-wstate-zuckerbergm-20191023-u1.pdf"},{"date":"2020-01-21","event":"Vodafone withdraws from the Libra Association.","source":"The Rise and Fall of Facebook's Libra Cryptocurrency — HulkApps","source_url":"https://www.hulkapps.com/blogs/ecommerce-hub/the-rise-and-fall-of-facebook-s-libra-cryptocurrency"},{"date":"2020-04-16","event":"Libra Association publishes whitepaper version 2.0, replacing the multi-currency basket design with individual single-currency stablecoins and formally applies for a payment system licence from FINMA in Switzerland.","source":"FINMA — Libra Association Licensing Process","source_url":"https://www.finma.ch/en/news/2020/04/20200416-mm-libra/"},{"date":"2020-12-01","event":"The Libra Association rebrands as the Diem Association; the currency is renamed Diem. Facebook's Calibra wallet was already renamed Novi earlier in 2020.","source":"CNBC","source_url":"https://www.cnbc.com/2020/12/01/facebook-backed-libra-digital-currency-has-been-renamed-diem.html"},{"date":"2021-10-01","event":"Facebook launches a limited pilot of the Novi wallet in the U.S. and Guatemala using the Paxos Dollar (USDP) instead of Diem, as Diem had not received regulatory approval.","source":"Banking Dive","source_url":"https://www.bankingdive.com/news/facebooks-novi-launches-digital-currency-wallet-pilot/608588/"},{"date":"2022-01-27","event":"Reports surface that the Diem Association is in discussions to sell its assets after U.S. federal regulators made clear the project would not receive approval to launch.","source":"TechCrunch","source_url":"https://techcrunch.com/2022/01/27/facebook-reportedly-ditches-diem-stablecoin-with-asset-sale/"},{"date":"2022-01-31","event":"Diem Association announces the sale of its intellectual property and technology assets to Silvergate Capital Corporation for approximately $182 million ($50 million cash plus approximately 1.2 million Silvergate Class A shares). The Association announces it will wind down operations.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2022/01/31/silvergate-bank-confirms-diem-tech-acquisition"},{"date":"2022-02-01","event":"The formal dissolution of the Diem Association is reported. Meta confirms the Novi wallet will also be shut down.","source":"CNN Business","source_url":"https://www.cnn.com/2022/02/01/tech/facebook-diem-association-dissolving"},{"date":"2022-07-01","event":"Meta shuts down the Novi digital wallet, approximately ten months after its limited pilot launch.","source":"FXStreet — Meta signals closure of Novi wallet","source_url":"https://www.fxstreet.com/amp/cryptocurrencies/news/meta-signals-closure-of-novi-wallet-after-a-10-month-pilot-202207041222"},{"date":"2023-01-01","event":"Silvergate Capital takes a $196 million impairment charge on the Diem intellectual property acquired in January 2022, writing down the assets to near-zero value and abandoning plans to launch its own stablecoin using the technology.","source":"Decrypt","source_url":"https://decrypt.co/119090/silvergate-writedown-diem-meta-failed-stablecoin-project"},{"date":"2023-03-08","event":"Silvergate Bank announces voluntary liquidation and wind-down, following a bank run triggered by its exposure to FTX and crypto-sector withdrawals. The Diem technology assets acquired for $182 million are rendered worthless.","source":"Protos — A comprehensive timeline of Silvergate's downfall","source_url":"https://protos.com/a-comprehensive-timeline-of-silvergates-downfall/"}]},"v":1}

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   python -m src.verify_decision 8975d6ff-f825-4ee4-b0bf-b57bde852332copy