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 broaden on the utility and capabilities of Bitcoin. This comes months after he left Meta’s cryptocurrency try – Diem – the place he spearheaded the venture.

Marcus introduced the information in a tweet thread on Thursday (Could 12, 2022), stating that step one will probably be to kind a group which might additional discover the Lightning Community.
The ex-Meta govt stated:

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

Whereas there is no such thing as a 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.
Based on TechCrunch, Marcus will function the corporate’s CEO, with some former Meta crypto members occupying govt positions.
Marcus was one of many co-creators of the Meta’s Diem venture (previously Libra) and was answerable for the Calibra digital pockets. He beforehand served as PayPal’s president, and was additionally answerable for Fb Messenger.
In November 2021, Marcus introduced that he would depart 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 group beneath a brand new title – Aptos.

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