- The end of Big Tech competition, for now
2021 has been a year of remarkable retreat by tech behemoths that once dreamed of crypto domination.
Meta, formerly known as Facebook, has dragged its feet for years about their digital currency, now called Diem.
The recent departure of Meta's head of cryptocurrency David Marcus all but guarantees that even if Diem makes it out of the starting gate, it will be irrelevant.
This departure follows Google's announcement in October that it will not pursue its ambitious plans for a full-blown payment and banking service.
The departure of humbled tech companies should represent a growth opportunity for existing cryptocurrencies and stablecoins