David Marcus announced to step down as a Head of Meta’s cryptocurrency project. In his tweet he wrote, “After a fulfilling seven years at Meta, I’ve made the difficult decision to step down and leave the company at the end of this year.”
On November 30, David Marcus used Twitter to announce his leave by the end of the year as Head of Meta’s Cryptocurrency project. To “start building something new and exciting again” as he states in a tweet.
According to Wikipedia, previously working for PayPal David Marcus, joined Facebook as a vice president of its Messaging Products service. Where oversaw the development of the Facebook Messenger mobile app.
In 2019, The Senate Banking Committee attacked, at the time Facebook executive, David Marcus, enquiring about the company’s intention over the launch of its Libra digital currency. Senator, Sherrod Brown commented, that Facebook had shown “through scandal after scandal that it doesn’t deserve our trust.”
On this subject, BBC reported, “Facebook’s plan for a cryptocurrency has come under further attack at a US hearing, with politicians calling the company “delusional” and not trusted.”
Because of the inspections from legislators and regulatory issues, the Libra project was repeatedly delayed. As CNN reports, “Initial concerns centered on then-Facebook’s potential influence on financial markets as well as potential privacy risks.”
The company later replaced the name Libra with Diem. And also launched Novi. “The digital wallet that will help people send and hold Libra digital currencies,” as Facebook states.
In one of the series of posts, Marcus praised the employees stating, “The one thing I’m the proudest of during my time here is the amazing kickass team we’ve assembled over the last three years. This is the most resilient, passionate, determined and talented group of humans I’ve ever worked with.”
He also thanked Meta’s CEO, Mark Zuckerberg, saying, “I’m incredibly grateful to Mark for the opportunity and privilege to share a bit of the journey over the years.”
Marcus’ position will be filled by Stephane Kasriel, a Novi VP of Product and former CEO of Upwork.