This FAQ explains the story of "Facebook coin"—the cryptocurrency projects once developed by Facebook (now Meta), including Libra and Diem—and answers common questions about what happened, whether it still exists, and what it means for beginners interested in crypto.

What is Facebook coin?

"Facebook coin" is not an official cryptocurrency; it refers to the digital currency projects announced by Facebook, most notably Libra (later renamed Diem). These projects were intended to create a global stablecoin backed by a basket of fiat currencies and government securities.

Facebook proposed Libra in June 2019 as part of its effort to expand into financial services. The project evolved through changes in response to regulatory pressure, but it was never launched as a public cryptocurrency, and the remaining assets were sold in 2022.

Is Facebook coin still available in 2026?

No, there is no official Facebook coin available in 2026. The Libra/Diem project was officially discontinued, and the rights and technology were sold to Silvergate Capital Corporation in January 2022.

  • Libra and Diem never reached a public launch.
  • Meta no longer operates any cryptocurrency project.
  • Any "Facebook coin" being sold today is likely a scam.

What happened to Facebook's Libra and Diem projects?

Libra was announced in 2019 as a global stablecoin, but it faced intense scrutiny from regulators and governments worldwide. Facebook renamed it Diem in 2020 and downsized its ambitions, yet the project still could not obtain regulatory approvals.

In January 2022, the Diem Association sold its technology and other assets to Silvergate Capital, effectively ending the project. This came after the project lost partners and shifted focus to a payment infrastructure.

How was Facebook coin supposed to work?

Libra was designed to be a blockchain-based stablecoin backed by a reserve of major currencies and short-term government securities, enabling low-cost, instant payments across borders.

Facebook created the Libra Association (later the Diem Association) to govern it, but users would transact through apps like Facebook, WhatsApp, and Instagram. The proposed technical infrastructure was vastly different from Bitcoin, as it would not be accessed anonymously and would run on a permissioned blockchain.

Why did Facebook's cryptocurrency fail?

Facebook's cryptocurrency failed mainly because of overwhelming regulatory opposition and a lack of trust from governments, central banks, and potential partners.

Key reasons included:

  • Concerns about data privacy and Facebook's history.
  • Fears about financial stability and money laundering.
  • Political pressure in the U.S. and Europe.
  • Key partners, like Visa, Mastercard, and PayPal, dropped out.

Could there be a new Facebook coin in the future?

It is possible, but as of 2026 Facebook's parent company Meta has not announced plans to launch a new cryptocurrency. Meta has explored blockchain concepts, but its focus has shifted toward the metaverse and AI.

Any future digital currency launched by Meta would likely face the same regulatory tests that killed Libra. Beginners should not expect a "Facebook coin" without substantial regulatory approval and transparency.

What are the risks of investing in a "Facebook coin" scam?

Because there is no official Facebook coin, any product marketed under that name is likely a scam that could steal your money or data. Familiarise yourself with common crypto scams, such as fake giveaways and phishing pages.

To protect yourself:

  • Never send cryptocurrency to addresses claiming to be a "Facebook coin" promotion.
  • Skeptically evaluate any news that seems too good to be true.
  • Check official Meta products and announcements for confirmation.
  • Report suspicious offers to your local authority.

How does Facebook coin compare to Bitcoin or other cryptocurrencies?

Unlike Bitcoin, Facebook's proposed Libra/Diem coin was not a decentralised, fully public cryptocurrency; it was a stablecoin managed by a permissioned association. Bitcoin runs on a public, permissionless network, while Libra/Diem would have been more like a controlled digital payment system.

Bitcoin's value is driven by supply and demand, while a stablecoin like Libra would have sought to maintain a fixed value. Furthermore, Bitcoin has no single corporate owner, whereas Facebook coin would have been tied to Meta's governance.

Final Thoughts

The idea of a "Facebook coin" has been a topic of speculation since 2019, but no official product ever launched. The story of Libra and Diem shows how difficult it is to build a global cryptocurrency in the face of regulation.

Beginners should remember that as of 2026, there is no legitimate Facebook coin to buy. The best approach is to learn the basics of real cryptocurrencies like Bitcoin and Ethereum, and to stay aware of scams posing as Facebook-branded assets.