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Libra, Facebook�s new cryptocurrency, explainedDiem, the cryptocurrency project funded by Facebook, announced on Monday that it would "begin the process of winding down" and selling its. One idea being bandied about is that the social media giant will deploy blockchain to create its own cryptocurrency to enable payments on the platform. Sheila. The crypto is referred to as �Project Libra� for the first time. cochesclasicos.org MIT Prof Joins the Project. May 3,