Bitcoin

Former Meta Executive Latest To Join Crypto Bandwagon

David Marcus, the previous chief of funds and crypto at Meta, on Thursday introduced his entrepreneurial foray into the Bitcoin ecosystem. He introduced launching a startup Lightspark to discover, construct and lengthen the capabilities and utility of Bitcoin, within the backdrop of his exit from Meta in November final 12 months.

All In On Bitcoin

Marcus shared the information in a tweet thread that stated, “We’re beginning a brand new firm known as Lightspark to discover, construct and lengthen the capabilities and utility of Bitcoin. As a primary step, we’re actively assembling a staff to dive deeper into the Lightning Community.”

He additional added,

“We’re thrilled to be joined by like-minded buyers, notably a16z crypto and Paradigm, who’re co-leading this primary spherical, in addition to ThriveCapital, Coatue, FelixCapital, RibbitCapital, MatrixPartners, Zeev Ventures and others. We’re excited to dive into Lightning, study extra, and work alongside the group.”

Within the capability of co-founder and chief govt officer, Marcus will serve together with quite a few former Meta workers who have been concerned with crypto tasks.

‘Downturns are good moments’

Apparently, the announcement comes amid a prevailing widespread meltdown within the cryptocurrency market. In distinction with standard market sentiment that shies away from making optimistic bulletins throughout bearing instances, Marcus stated in his assertion that “Downturns are good moments to give attention to constructing and creating worth with mission-aligned folks.”

The previous Meta govt is thought for his experience within the fintech and cryptocurrency house. Whereas at Meta, he predominantly labored on two crypto-centric tasks, Novi and Diem. Whereas Novi was a cryptocurrency pockets that was meant to permit customers to trade stablecoins utilizing a cell app, the Diem cryptocurrency undertaking was topic to steady regulatory hurdles. Widespread business resistance pressured Meta to decelerate roll out of latest updates within the undertaking.

 

Anvesh is eager on writing about main bulletins round crypto adoption by establishments and standard personalities. Having been related to the cryptocurrency business since 2016, his curiosity on this house helped pivot his journalism profession to the blockchain ecosystem. Comply with him on Twitter at @AnveshReddyEth and attain out to him at anvesh (at) coingape.com

The introduced content material could embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability in your private monetary loss.



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