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Zuckerberg’s dream of launching a cryptocurrency is officially over

Meta CEO Mark Zuckerberg’s plan to democratize crypto payments through Facebook has failed. The project, called the Diem Association, said it had disbanded, with its assets selling for a reported US$200 million. Launched in 2019, the initiative aimed to make spending money through tokens tied to the value of the U.S. dollar as easy “as sending a text message,” per The Wall Street Journal, but ran into regulatory resistance from the start. Officials were particularly concerned about the project’s potential impact on financial…