Meta (formerly known as Facebook) has joined the Crypto Open Patent Alliance (COPA). With the alliance, the company plans to protect open-source innovation by lowering the chance of patent litigation. In addition to Coinbase, Meta will also join COPA's board.
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"Through joining COPA, Meta has pledged not to enforce its core cryptocurrency patents against anyone, except for defensive reasons, effectively making these patents freely available for all to use," the announcement says.
Being a non-profit community of people and companies, COPA counts over thirty members, including MicroStrategy, Kraken, Uniswap and others. COPA claims its members take on a pledge to "never assert their patents on foundational cryptocurrency technology against anyone, except for defensive reasons."
Earlier in January, reports said that Meta-backed Diem Association started negotiations to sell its assets to California cryptocurrency bank Silvergate Capital Corp for $200 million. According to sources close to the matter, the group is contacting investment banks in an attempt to divest itself of its intellectual property and is looking for new locations for developers. However, there is no guarantee Diem will be able to find a buyer.
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