Live Facebook Diem Drops to Zero

Facebook's Cryptocurrency Drops to Near Zero Value

The live Facebook Diem, formerly known as Libra, has seen its value drop to 0 USD. As of today, the 24-hour trading volume of the cryptocurrency is also 0 USD. The move is a major setback for Facebook's ambitious project to create a new global currency.

Facebook first announced Libra in 2019 as a way to make sending money as easy as sending a text message. The project was backed by a consortium of major companies, including Mastercard, Visa, and Uber. However, Libra has faced a number of regulatory and legal challenges, including from the U.S. Securities and Exchange Commission (SEC).

In January 2021, Facebook announced that it was changing the name of Libra to Diem and that it would be launching a new digital wallet called Calibra. However, the project has continued to face regulatory hurdles, and it is now unclear when or if it will ever be launched.

Conclusion

The live Facebook Diem is currently worthless, and the future of the project is uncertain. The move is a major setback for Facebook's ambitions to create a new global currency.