3 Reasons Silvergate Capital Could Succeed Where Meta Failed in Crypto
Silvergate Capital (NYSE: SI), a top bank providing crucial behind-the-scenes services to cryptocurrency investors, recently acquired the crypto project Diem from Meta Systems (NASDAQ: FB), formerly Facebook.
Facebook's attempted foray into crypto was announced back in 2019 under the moniker Libra, but that met with stiff opposition from government regulators around the world.
Silvergate has now acquired the assets, paying Meta $50 million in cash and issuing just over 1.22 million shares to the social-media company, for a total price tag of $182 million as of the deal's announcement on Jan. 31.
Source Fool.com
