"Facebook's Diem Pivots " May 14, 2021

Today’s blockchain and cryptocurrency news Brought to you by ungrocery.com Bitcoin is down .5% at $50,625 Ethereum is up slightly at $3,999 and Binance Coin is down slightly at 606. Dogecoin up 29% Polygon up 24% Ethereum classic, up 21% Facebook’s Libra project pivots to Diem, pivots back to the US, and pivots to a USD stablecoin. The IRS warns that the agency can seize people’s crypto assets to settle unpaid taxes. DeFi protocol xToken exploited for $24.5M. The Colonial Pipeline paid the $5M crypto ransom soon after the attack. Links: IRS Seizing Crypto Assets to Pay Off Tax Debts, Official Says Colonial Pipeline Paid Hackers Nearly $5 Million in Ransom - Bloomberg Attacker uses flash loans in $24.5 million exploit of DeFi protocol xToken xToken on Twitter: "Our initial report on today's exploit. More details in the coming days. https://t.co/ZadHCUTqEK" / Twitter Diem Announces Partnership with Silvergate and Strategic Shift to the United States Learn more about your ad choices. Visit megaphone.fm/adchoices