Meta's Crypto Project Is Closing. Here's What Investors Need to Know

Earlier this year, Meta Platforms (NASDAQ: META) sold off its holdings in Diem Association -- the cryptocurrency project it had been working on the last few years with other tech and digital payments companies. Crypto bank Silvergate Capital (NYSE: SI) was the buyer of the Diem assets, but it was still unclear what would become of Meta's Novi digital wallet. One year after beginning a pilot program, it looks like Novi is now closing up shop and will no longer be available for use after Sept. 1, 2022.