The project triggered congressional hearings, partner defections and a global central bank digital currency push before being renamed Diem and ending in January 2022.
Facebook unveiled Libra seven years ago, marking a turning point that pushed crypto from a niche technology discussion into a geopolitical issue. The initiative was followed by congressional hearings, partner defections and a broader global sprint toward CBDCs (central bank digital currencies). The project was later renamed Diem and was killed in January 2022.