Cryptocurrencies
Dorsey Says Zuckerberg Should Have Focused on Bitcoin, Not Diem
- Block CEO says Meta’s failed crypto project led to wasted time
- Jack Dorsey is a major Bitcoin proponent and defender
Jack Dorsey
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
Block Inc. Chief Executive Officer Jack Dorsey criticized Meta Platforms Inc.’s failed cryptocurrency project, Diem, saying the company’s time would have been better spent focused on advancing Bitcoin.
Dorsey said Tuesday that Meta’s approach to Diem, a proposed cryptocurrency formerly known as Libra that came to an unceremonious end this week, wasn’t open enough. Instead, Dorsey says Meta was too focused on driving people to its own suite of products, like WhatsApp and Instagram.