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In a recent interview, former Nintendo of North America president and COO Reggie Fils-Aime questioned Facebook’s current definition of its vision for the metaverse, saying “Facebook isn’t an innovative company per se, they either buy Oculus. And interesting companies like Instagram, either quickly follow people’s ideas.

According to reports, the Diem Association, a digital currency project, issued a statement confirming the sale of its intellectual property and other payment network-related assets to Silvergate Bank, a California-based chartered bank.