Friday, July 1, 2022
HomeGeneral BlockchainFormer Meta Executive David Marcus Unveils Bitcoin-Focused Startup

Former Meta Executive David Marcus Unveils Bitcoin-Focused Startup

David Marcus has introduced the launch of a brand new firm referred to as Lightspark, which goals to increase on the utility and capabilities of Bitcoin. This comes months after he left Meta’s cryptocurrency try – Diem – the place he spearheaded the challenge.

  • Marcus introduced the information in a tweet thread on Thursday (Might 12, 2022), stating that step one shall be to kind a workforce which might additional discover the Lightning Community.
  • The ex-Meta government mentioned:

“Downturns are good moments to deal with constructing and creating worth with mission-aligned individuals. We’re excited to dive into Lightning, study extra, and work alongside the neighborhood. We’ll share extra about our work as we make progress!”

  • Whereas there isn’t any sturdy details about the brand new startup, Lightspark’s first spherical is led by Andreessen Horowitz (a16z) and Paradigm. Different traders taking part within the occasion embody Ribbit Capital, Thrive Capital, Zeev Ventures, Felix Capital, amongst others.
  • In keeping with TechCrunch, Marcus will function the corporate’s CEO, with some former Meta crypto members occupying government positions.
  • Marcus was one of many co-creators of the Meta’s Diem challenge (previously Libra) and was accountable for the Calibra digital pockets. He beforehand served as PayPal’s president, and was additionally accountable for Fb Messenger.
  • In November 2021, Marcus introduced that he would go away Meta, after spending seven years on the firm. Shortly after, the corporate disassembled the Diem initiative, which is now making an attempt to get revived with one other workforce beneath a brand new title – Aptos.

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