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Ex-Meta crypto head David Marcus plans to debut in Bitcoin by launching startup firm Lightspark

On Thursday, David Marcus, the Ex Meta’s head of transactions and crypto, announced his entry into the Bitcoin industry. In the aftermath of his departure from Meta in November, last year, he declared the formation of Lightspark to study, innovate, and extend the potential and utility of Bitcoin.

David Marcus, says in the twitter post that:

“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.”

And he further explained that:

“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 limit of prime supporter and CEO, Marcus will serve various previous Meta workers who were associated with crypto projects.

Surprisingly, the statement comes in the midst of a global crash in the crypto industry. In contrary to prevailing market opinion, which discourages companies from making positive announcements during bad markets. David Marcus, stated that “Downturns are good moments to focus on building and creating value with mission-aligned people.

Ex Meta’s CEO is well-known for his expertise in the fintech and digital money sectors. While at Meta, he primarily  dealt with two crypto-driven projects, Novi and Diem. While Novi was a cryptographic money wallet that was intended to permit clients to trade stablecoins utilising a portable application, the Diem cryptocurrency project faced ongoing regulatory challenges. Widespread industry opposition pushed Meta to halt the project’s rollout of fresh versions.

Read more:

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