According to Decrypt, Silvergate Capital, a provider of financial infrastructure solutions for digital assets, disclosed that it had made an impairment charge of US$196 million in the fourth quarter of 2022, deducting the intellectual property and technology acquired from Diem Group early last year. the value of. This revised figure represents a 98% loss compared to the $200 million paid to acquire the assets. Silvergate Capital stated that its original plan was to integrate the assets obtained from Diem into its Silvergate Exchange Network (SEN) for institutional clients, but the launch of the stablecoin has been firmly put on hold. At the end of January 2022, according to the Wall Street Journal, the Diem Association supported by Meta (formerly Facebook) is gradually shutting down and selling its technology to Silvergate Capital for about $200 million.