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☆ Former Meta exec says the company's failed crypto project was '100% a political kill' by regulators
▼ + stars: | 2024-12-02 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +6 min

An ex-Meta exec in charge of the company's crypto Libra, later renamed Diem, says its shutdown was political. Meta's former head of its Libra project says roadblocks from regulators effectively shut down the company's cryptocurrency effort — and the way he sees it, it was "100% a political kill." AdvertisementLibra was a stablecoin digital currency project announced by Facebook in 2019 to provide financial services to billions of "unbanked" people around the world. AdvertisementMeta CEO Mark Zuckerberg testified before Congress about the company's financial services plans a few months after Marcus. Zuckerberg said during his appearance before lawmakers that Facebook would drop out of the Libra project if it didn't gain the approval of US regulators.

Persons: Diem, David Marcus, —, Libra, Marcus, Jerome Powell, Jay Powell, Janet Yellen, wasn't, Sen, Sherrod Brown, Brian Schatz, Mark Zuckerberg, Zuckerberg, Donald Trump, Benoit Coeure, I'm, Meta's, that's, Lightspark Organizations: Meta, Diem Association, Facebook, Libra Foundation, Mastercard, PayPal, Uber, Spotify, Bank, Banking Committee, Financial, Diem, US Treasury, Business, Fed, Libra Association, Visa, European Central, U.S ., Cambridge

☆ Crypto execs says the bull run is underway and could lead to $100,000 bitcoin in 2024
▼ + stars: | 2023-12-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

"It feels that [2023]was a year to get ready for the bull run that is yet to come. But the sentiment is very hopeful for [2024] and 25," Pascal Gauthier, CEO of Ledger, told CNBC last week in an interview. Since then, the crypto industry has been hit with a litany of issues from the collapse of coins and projects to bankruptcies and criminal trials. It began with Standard Chartered last week which reiterated an April price call that bitcoin would hit $100,000 by end of 2024. "Combined with geopolitical crosscurrents, this healthy dose of monetary support should push Bitcoin to new highs in 2024."

Persons: Chino, Bitcoin, Pascal Gauthier, Ledger, Sam Bankman, Changpeng Zhao, David Marcus, Marcus, Facebook's, Diem, Gauthier, Vijay Ayyar, Matrixport Organizations: Getty, CNBC, U.S . Department of Justice, bitcoin, Standard Chartered, Federal Reserve

☆ Crypto sector nearing end of 'speculative phase,' Lightspark CEO says
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto sector nearing end of 'speculative phase,' Lightspark CEO saysDavid Marcus, co-founder and CEO at Lightspark, discusses the state of the cryptocurrency sector, which he says is near the end of the "speculative phase."

Persons: David Marcus

☆ Tech leaders are pulling out of a CEO's conference over remarks he made about Israel
▼ + stars: | 2023-10-16 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

"War crimes are war crimes even when committed by allies, and should be called out for what they are." War crimes are war crimes even when committed by allies, and should be called out for what they are. Israel's ambassador to Portugal, Dor Shapira, announced Monday that his country would no longer participate in the Web Summit conference as a result of Cosgrave's "outrageous statements." AdvertisementAdvertisement"We are saddened to hear that some Israelis in the tech community will no longer be attending Web Summit," a spokesperson said. "To repeat: War crimes are war crimes even when committed by allies & should be called out for what they are," Cosgrave wrote.

Persons: Israel, —, Paddy Cosgrave, I'm, Cosgrave, I’m, — Paddy Cosgrave, Dor Shapira, Shapira, Garry Tan, Y, Goshen, Ravi Gupta, Keith Peiris, Tome, Adam Singolda, David Marcus Organizations: Tech, Service, Web, AI21 Labs, Sequoia, PayPal, Web Summit, Hamas Locations: Europe, Israel, Irish, Lisbon, @paddycosgrave, Portugal, Goshen, Gaza, Palestinian

☆ The former head of Meta's failed stablecoin project admits he was too 'idealistic.' Now David Marcus's new startup plans to work within the system.
▼ + stars: | 2023-09-14 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

With an ultimate goal to be the go-to currency for the global financial system, it was, in hindsight, too ambitious, Marcus admits now. "If you're dependent on one centralized stablecoin to do global payments, it's a problem as we've experienced firsthand," he said. Why Meta's crypto project failedIn 2019 Meta unveiled plans to create a digital currency pegged to hard currencies including the US dollar. With his new startup, Lightspark, Marcus plans to hypercharge the global payments system is simpler, or at least less grandiose. Users will swap their local currency for bitcoin and then have it converted to the local currency of whichever country the capital is needed in.

Persons: David Marcus, Meta's, Libra, Diem, Marcus, Meta, that's, Mark Zuckerberg, he's, Christian Catalini, Marcus's, Catalini Organizations: PayPal, Visa, Securities and Exchange Commission, Meta, bitcoin, Facebook, JPMorgan, Bloomberg Locations: Manhattan, Los Angeles, Bahrain

☆ We're trying to turn Bitcoin into a real global payment network, says Lightspark CEO
▼ + stars: | 2023-09-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're trying to turn Bitcoin into a real global payment network, says Lightspark CEODavid Marcus, co-founder and CEO at Lightspark, joins 'Squawk Box' to discuss the company's project around the lightning network, why it's so important to work on the global payments system, and more.

Persons: David Marcus

☆ Nvidia is in a great position to be in a winner-takes-all moment for A.I., says Lightspark CEO
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia is in a great position to be in a winner-takes-all moment for A.I., says Lightspark CEODavid Marcus, co-founder and CEO at Lightspark, joins 'Squawk on the Street' to discuss his thoughts on Nvidia and its future.

Persons: David Marcus Organizations: Nvidia

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