Vancouver, Kelowna, Delta, BC – February 2, 2022 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.
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Crypto Corner Podcast 766: Stocks discussed: (NasdaqGS: FB) (NYSE: SI) (NasdaqCM: MIGI) (NEO: WNDR)
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Crypto Corner Episode 766: Meta’s Diem to Sell Off IP and Assets, Mawson Partners with Voltus, and Bitbuy Reports Increased Volume and New Users
Stocks discussed: (NasdaqGS:FB) (NYSE:SI) (NasdaqCM:MIGI) (NEO:WNDR)
Diem, the cryptocurrency project from Meta Platforms, Inc. (NasdaqGS:FB), has announced that it is selling its intellectual property and other assets related to the running of the Diem Payment Network to Silvergate Capital Corporation (NYSE:SI). Stuart Levey, the CEO of Diem Networks US, said:
“Despite giving us positive substantive feedback on the design of the network, it nevertheless became clear from our dialogue with federal regulators that the project could not move ahead. As a result, the best path forward was to sell the Diem Group’s assets, as we have done today to Silvergate.
We remain confident in the potential for a stablecoin operating on a blockchain designed like Diem’s to deliver the benefits that motivated the Diem Association from the beginning. With today’s sale, Silvergate will be well-placed to take this vision forward. Over the coming weeks, the Diem Association and its subsidiaries expect to begin the process of winding down, but we look forward to seeing the design choices – and the ideals – of Diem thrive.”
Mawson Infrastructure Group, Inc. (NasdaqCM:MIGI) has partnered with Voltus, Inc. to deliver 100 megawatts (MWs) of distributed energy resources to the PJM electricity grid in 2022. According to the press release Mawson “is building a new 100 MW cryptomining facility on the grounds of a former industrial site in Midland, Pennsylvania with the intention of bringing 50 MWs of load online by March 2022 and an additional 50 MWs by June 2022.” Gregg Dixon, the Co-founder and CEO of Voltus, said:
“Cryptomining load is expected to reach nearly 10,000 MWs in the US over the next five years. Voltus can control these loads in a fully automated fashion, connecting this capacity to power markets that value them, resulting in cash back to miners, reliable resources for grid operators, and a balancing resource to improve the reliability of much-needed renewable energy. Digital infrastructure leaders like Mawson recognize that partnering with Voltus supports the grid and provides a competitive advantage in the power-cost driven world of cryptomining.”
Digital asset marketplace Bitbuy, which was recently acquired by WonderFi Technologies Inc. (NEO:WNDR), has announced that it has achieved an increase in both monthly new deposits and in marketplace coin volumes. Ben Samaroo, CEO of WonderFi, commented:
“Since announcing the Bitbuy acquisition and our $45M bought deal with Canaccord, we continue to engage with the Bitbuy team to identify multiple synergy opportunities that we expect to optimize the future value and performance of both businesses. Bitbuy’s performance over the last few months solidifies the thesis that platforms like Bitbuy thrive with market volatility.”
Sam Mowers, Investorideas
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