David Marcusformer executive of Meta and co-creator of the project diem of Facebooknow ceded to Silvergate Bankchose to turn to Bitcoin (BTC), with a new company, lights parkcreated with the purpose of exploring, building and expanding the capabilities and utility of BTC.
“Our first step will be to assemble a team to explore the Lightning Network,” said tweeted the contractor.
Marcus said downturns like the one currently seen in the BTC and crypto market are great opportunities “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.”
The businessman said the new company has secured support from a number of investors through its first round of financing. Among these are Andreessen Horowitz (a16z), Paradigm, Thrive Capital, Coated, Felix Capital, Ribbit Capital, Matrix Partners, Zeev Ventures and other players in the financial sector.
The value of the funds injected into his new venture has not been disclosed.
Los Angeles-based Lightspark is currently focused on building its team of engineers, developers, cryptographers, and storage specialists, among others. Three positions are available at the moment, according to company data.
During his tech career, Marcus was the founder and CEO of mobile payments provider Zong. His company was later taken over by PayPal, which led to the businessman being named vice president, then president of the company. In 2014 he joined Facebook (today – Meta). Within the company of mark zuckerberg, Marcus worked on the platform’s stablecoin project among other companies. Three years later, he also joined Coinbase as a board member, a position he left in August 2018 after less than a year. He left the Diem association where he was a member of the board of directors last December.
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