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    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 prolong the capabilities and utility of Bitcoin, within the backdrop of his exit from Meta in November final yr.

    All In On Bitcoin

    Marcus shared the information in a tweet thread that stated, “We are starting a new company called Lightspark to explore, build and extend the capabilities and utility of Bitcoin. As a first step, we are actively assembling a team to dive deeper into the Lightning Network.”

    He additional added,

    “We are thrilled to be joined by like-minded investors, notably a16z crypto and Paradigm, who are co-leading this first round, as well as ThriveCapital, Coatue, FelixCapital, RibbitCapital, MatrixPartners, Zeev Ventures and others. We are excited to dive into Lightning, learn more, and work alongside the community.”

    In the capability of co-founder and chief govt officer, Marcus will serve together with a variety of former Meta staff who have been concerned with crypto initiatives.

    ‘Downturns are good moments’

    Interestingly, the announcement comes amid a prevailing widespread meltdown within the cryptocurrency market. In distinction with common market sentiment that shies away from making constructive bulletins throughout bearing instances, Marcus stated in his assertion that “Downturns are good moments to focus on building and creating value with mission-aligned people.”

    The former Meta govt is understood for his experience within the fintech and cryptocurrency house. While at Meta, he predominantly labored on two crypto-centric initiatives, Novi and Diem. While Novi was a cryptocurrency pockets that was meant to permit customers to alternate stablecoins utilizing a cellular app, the Diem cryptocurrency mission was topic to steady regulatory hurdles. Widespread business resistance compelled Meta to decelerate roll out of recent updates within the mission.

     

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

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





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