Silvergate has written down the value of Diem's intellectual property and technology acquired last year, which amounts to a 98% loss

2023-01-13 09:07:48BlockBeatsShare to:

BlockBeats news, January 13, according to Decrypt, encrypted banking group Silvergate Capital disclosed last week that it had made a $196 million impairment charge in the fourth quarter of 2022, deducting the knowledge acquired from Diem Group early last year. The value of property rights and technology. This revised figure equates to a loss of 98% compared to the $200 million paid to acquire the assets. Silvergate had planned to use these assets to launch a stablecoin last year, but Silvergate said last week that the launch of the stablecoin has been firmly put on hold.

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