"Facebook's Diem Pivots " May 14, 2021

Daily Crypto Report · May 14, 2021 · 5m

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…