Facebook’s Top Cryptocurrency Executive Is Leaving The Company

Aniket Jain 2021-12-02 10:12

Crypto has caused quite some rage in the world. With every major company trying its luck in the crypto market and trying to. incorporate crypto in their work, cryptocurrency is slowly becoming an asset that every giant multinational. the company wants to incorporate.

On a similar note, Facebook the social media giant had announced that it would soon allow its users to auction on NFTs.

It was also supposed to launch its digital currency that users could look for transactions. However, things seem to be moving down south for the Mark Zuckerberg company.

Recently even the top cryptocurrency executive resigned from the company.

Marcus Leaves Facebook

David Marcus, the head of the cryptocurrency effort, is leaving the country at the end of this year to pursue other projects.

Marcus’s decision could significantly impact the future of crypto at the company as his exit arrives at a time when Meta, formerly known as Facebook, has lagged in its attempt to launch its digital currency that can be used for online transactions through Facebook.

Marcus was supervising the development of digital currency Diem along with a wallet app Novi. It is reported that, after his release, Stephane Kasriel will take over.

While there’s still so much to do right on the heels of launching Novi — 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,” Marcus said in a tweet.

In a reply to Marcus’s post, Facebook CEO Mark Zuckerberg said, “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.”

Conclusion

The crypto executive had joined Facebook in August 2014 after working with Paypal. He has started in the social media company as the Vice President in charge of the messenger app and further moved on to oversee Facebook’s financial projects. With Marcus’s departure.

What’s in store for the social media giant’s crypto future is only for time to tell.

For more such crypto-based news, stay tuned!

Original Source