David Marcus, The Man Who Has Headed Meta’s Cryptocurrency Plans For Years, Is Now Stepping Down From The Company

David Marcus, the man responsible for overseeing Facebook’s cryptocurrency push, is stepping down from the company in 2021.

Well, Meta had been proudly declaring its plans to incorporate cryptocurrency accessibility across the board with its platforms, starting with Facebook and moving on to the rest. Therefore, as is the rule with this particular company, something major had to go wrong. Whether it be employee issues or implementation issues, Meta will either intentionally or unintentionally run into a hurdle that ends up taking some solid doing to even slightly get over. In this case, the issues are a little bit of both, with David Marcus taking off from the social network due to both his own plans on working on different projects, as well as not wanting to deal with the endless list of problems that crypto and social media platforms brought to the table.

Let’s be fair to the poor man, considering that he has worked at Meta for a solid 7 years. Didn’t even take Frances Haugen that long to cart off with her possessions, following which she tried to go down the company’s throat like a rather potent vial of cyanide. If that’s the standard that we’re following, let’s give Mr. Marcus maybe a month or so before he reveals any number of security related issues with Facebook’s most annoying project as of late, the crypto-wallet Novi. To Marcus’ credit, he’s not leaving the company without any sense of direction. The man’s Twitter posts on the matter reveal that Novi is right at the heels of launching, therefore showing that things definitely wrapped up on his end.

Novi’s seen a lot of issues since the idea’s conception a while back. It’s mostly seen a lot of pushback from lawmakers, stating that the wallet can’t be considered a valid form of online currency, and can therefore not be dealt with within a country’s limits. This led to a rocky development cycle, where initial beta testing in the USA and Guatemala got put on hold multiple times. A year turned into two, and David Marcus apparently came to the realization that his own projects needed time and attention from the man as well. He plans on working on Diem, a co-founded crypto project of his, along with other entrepreneurial projects down the line.

Photo: Twitter / David Marcus
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