Ex-Meta Crypto Lead David Marcus Launches Bitcoin Payments Startup
David Marcus, Facebook Messenger’s former lead and ex-PayPal executive, announced the creation of Lightspark.
According to the project website, the company is focused on building, exploring and creating on Bitcoin’s Lightning Network.
In a tweet thread Marcus wrote that the first step will be build a team dedicated to diving into the Lightning Network. He continued referencing to the current bear market and said that “downturns are good moments to focus on building and creating value with mission-aligned people.”
Downturns are good moments to focus on building and creating value with mission-aligned people. We’re excited to dive into Lightning, learn more, and work alongside the community. We’ll share more about our work as we make progress! (3/3)
Marcus will lead Lightspark as the CEO, the executive team will include a number of ex-Meta, formerly known as Facebook, executives.
The details are not year clear on the products and services to be offered by Lightspark, but a list of investors was provided for the company’s first round which include: Thrive Capital, Coatue, Felix Capital, Ribbit Capital, Matrix Partners and Zeev Ventures. A16Z and Paradigm also participated and co-led the funding round.
Marcus addressed the lack of information provided on the company’s public outline in the tweet above saying “We’re excited to dive into Lightning, learn more, and work alongside the community. We’ll share more about our work as we make progress!”
Marcus is credited with co-creating the stablecoin project Diem, formerly known as Libra, that was eventually canceled by Meta due to heavy pressure from regulatory bodies.
