Libra Creator David Marcus Begins New Lightning Network Venture Lightspark

05/13 01:43

According to Coindesk, David Marcus, the former crypto chief at Meta (formerly Facebook), took to Twitter to unveil Lightspark, a new company aimed at building on the Bitcoin-based Lightning Network. Marcus said in a tweet: “As a first step, we’re actively assembling a team to dive deeper into the Lightning Network.” The new project has raised an undisclosed funding round co-led by Andreessen Horowitz (a16z) and Paradigm with participation from Thrive Capital, Coatue, Felix Capital, Ribbit Capital, Matrix Partners and Zeev Ventures. Marcus previously founded Zong, a telecom billing network that was later acquired by PayPal (PYPL). He headed mobile payments at PayPal then became president. In 2014, Marcus moved to Meta (FB) to head Facebook Messenger, then payment products, where he created the much delayed (and ultimately closed) libra stablecoin project.

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