Facebook’s Cryptocurrency Venture to Wind Down, Sell Assets

Facebook’s ambitious effort to bring cryptocurrency to the masses has failed. The Diem Association, the consortium Facebook founded in 2019 to build a futuristic payments network, is winding down and selling its technology to a small California bank that serves bitcoin and blockchain companies for about $200 million, a person familiar with the matter said. … Read more

BuzzFeed Suffers Wave Of Withdrawal From SPAC Investors Before It Goes Public

BuzzFeed Inc. is not expected to raise significant funds through its public listing, as investors in the company with blank checks it combines will withdraw most of their funds, according to people familiar with the matter. BuzzFeed announced plans in June to go public through a merger with 890 5th Avenue Partners Inc., a special-purpose … Read more

Bill wanted to remove social media from protecting health misinformation

WASHINGTON – Sen. Amy Klobuchar introduced a bill on Thursday that would deprive online platforms like Facebook Inc. and Twitter Inc. liability protection if their technology spreads misinformation about coronavirus vaccines or other public health emergencies. The bill, which Ms. Klobuchar (D., Minn.) Has previously telegraphed was on the way, would create an exception to … Read more