JACK DORSEY CRITICIZES META (FACEBOOK) FOR WASTING TIME ON STABLECOIN DIEM

Former Twitter CEO Jack Dorsey thinks that while Facebook started the Diem stablecoin project for the right reasons, the platform should focus on Bitcoin rather than trying to create its own currency.

Specifically on February 2, MicroStrategy CEO Michael Saylor interviewed Jack Dorsey at his company's Bitcoin 2022 conference for business, to share how the organization will implement the integration. How to combine and use Bitcoin (BTC) in the future.

During the discussion, Jack Dorsey did not hesitate to say that Meta's (formerly Facebook) Diem project was a complete failure, having wasted a lot of effort and time. Meta should have focused its efforts on making Bitcoin more accessible to everyone.

“I think there are a lot of lessons behind Diem's ​​breakup. Hopefully they've learned a lot from that."

Dorsey further asserted that the move to help BTC grow in terms of user awareness will also benefit many of Meta's products, specifically mentioning Facebook Messenger, Instagram, and WhatsApp. To keep track of all the developments surrounding Facebook's Diem stablecoin project recently having trouble, please read through the full article below.

Facebook's Diem stablecoin project "on the verge of collapse"

Jack Dorsey's criticisms of Twitter's most powerful social media rival are perhaps not surprising. Because, since stepping down as Twitter CEO last November, Dorsey has made it clear that he plans to make Bitcoin the focus of the company he runs, Block ( formerly known as Square ). Block allows users to buy Bitcoin through mobile payment service, cash application.

Jack Dorsey is even ready to uphold his Bitcoin "spirit" when he voiced his "doubt" on Web3 , following the previous views of billionaire Elon Musk, causing a lot of controversy from the investor community. time of the event. Recently, the former Twitter CEO also proposed establishing a Bitcoin legal defense fund for developers .