Former Facebook Crypto Chief Launches Bitcoin Payments Company

Former Facebook Crypto Chief Launches Bitcoin Payments Company
David Marcus, Head of Calibra at Facebook, testifies about Facebook's proposed digital currency called Libra, during a Senate Banking, House and Urban Affairs Committee hearing on Capitol Hill in Wash., on July 16, 2019. Saul Loeb/AFP/Getty Images
|Updated:
David Marcus, the former head of Meta Platforms Inc-owned Facebook’s crypto project Diem, has launched a Bitcoin payments startup.

What Happened

Marcus and a few ex-Meta crypto team members have started a new venture, according to a report from TechCrunch on Thursday.

The new company, called Lightspark, would build on the Bitcoin Lightning Network. It will reportedly work towards building and extending the capabilities and utility of Bitcoin.