The last remnant of Facebook's crypto project shuts down September 1
— Hours trading, Novi pilot, Facebook debuted, Conjunction, Means, Logo, Meta, Novi users, Applicable, Dialogue — 1 min read
Meta plans to shutter its Novi digital wallet on Sept. 1, just 11 months after the company formerly known as Facebook debuted it. The company released Novi last October in a so-called beta, or testing, version with the help of the cryptocurrency exchange. At one point, Meta planned to issue and accept the Diem cryptocurrency, which was backed by a Facebook-led association, in conjunction with the wallet. The leader of the project, David Marcus, announced his departure from Facebook last November. Meta shares were flat in after-hours trading at $160.00; the company said Novi users should withdraw their remaining balance on their Novi accounts before the closure date, or withdraw the digital funds as cash where applicable, the company Source