Facebook’s top crypto executive David Marcus is leaving the company at the end of this year to work on something new. The former PayPal executive joined Facebook in 2014 to run Messenger before moving over to form the company’s blockchain division in 2018.
<h2><strong>David Marcus No Longer Part of Facebook</strong></h2>
David Marcus will no longer remain the head of Facebook Financial, the group that was created last year to oversee all of the company’s ventures into payments and commerce.  He will be replaced by company executive Stephane Kasriel, after serving as CEO of freelancing network Upwork.

Under his leadership, Facebook revealed plans for virtual currency Diem stablecoin and Novi digital wallet.

After Facebook rebranded to “Meta”, the company’s Novi digital wallet launched with a small pilot in October but only in the U.S. and Guatemala aimed at remittances between Guatemala and the U.S. utilizing the Paxos stablecoin. While Diem currency that spurred so much ire from regulators and politicians around the world is yet to appear officially.

Sharing a <a href="https://www.facebook.com/davidm/posts/10166264804120195" target="_blank" rel="nofollow noopener">Facebook </a>post-Tuesday, Marcus revealed that may soon be starting his own venture, saying:
<blockquote><em>“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.”</em></blockquote>
<h2><strong>Crypto-Friendly Marcus</strong></h2>
Marcus, a former president of PayPal first joined Facebook as the vice president of the company’s Messenger division in 2014. Four years later, he took over to lead the company’s blockchain division.

He has long been an important figure in the crypto community since his days as the president of PayPal where he was among the top of tech leaders to embrace Bitcoin and other cryptocurrencies. In fact, has previously served on the board of US-based cryptocurrency exchange Coinbase.

Facebook’s Crypto Lead David Marcus is Leaving the Company by Year’s End

Facebook’s top crypto executive David Marcus is leaving the company at the end of this year to work on something new.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Facebook’s Crypto Lead David Marcus is Leaving the Company by Year’s End

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