Tuesday, January 25, 2022

The leader of Facebook’s stalled cryptocurrency project is leaving the company

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Facebook cryptocurrency chief David Marcus introduced at this time that he’s leaving the company. The former PayPal govt joined Facebook in 2014 to run Messenger however finally took over plans to launch a brand new cryptocurrency and pockets, identified at the time as Libra and Calibra, respectively.

After some pre-Meta identify adjustments, the digital pockets launched with a small pilot in October beneath the identify Novi however solely in two international locations (the US and Guatemala) and assist for a single kind of crypto, the Paxos stablecoin. The foreign money that spurred a lot ire from regulators and politicians round the world, now known as Diem, has but to look.

In posts on his Facebook web page and Twitter, Marcus says, “While there’s still so much to do right on the heels of hitting an important milestone with Novi launching — and I remain as passionate as ever about the need for change in our payments and financial systems — my entrepreneurial DNA has been nudging me for too many mornings in a row to continue ignoring it.” He introduced that Novi VP of product Stephane Kasriel will take over management of the group.

Meta CEO Mark Zuckerberg commented on the Facebook put up, saying, “I’ve learned so much working with you and I’m so grateful for everything you’ve done for this place. We wouldn’t have taken such a big swing at Diem without your leadership and I’m grateful you’ve made Meta a place where we make those big bets. You’ve built a great team, and while I’ll miss working with you, I’m looking forward to working with Stephane to lead the team going forward.”


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