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David Marcus, Meta’s Head Of Crypto Goes Down By The End Of The Year

David Marcus is the head of Meta’s cryptocurrency and fintech unit Novi. Notably, he’s stepping down from his role by the end of 2021.

Furthermore, Stephane Kasriel, the former CEO of Upwork( been in Meta, formerly known as Facebook, since August 2020) is taking over from David Marcus.

More so, David Marcus announces the decision through a Dec. 1 tweet. Of course, stating that the decision to leave the firm by the end of this year is a hard one. However, He’s yet to give out more details on the move, then says it may be something “new and exciting” that he builds himself,

So, David Marcus explains,
“While there’s still so much to do right on the heels of launching Novi”
“— and I remain as passionate as ever about the need for change in our payments and financial systems”
“— my entrepreneurial DNA has been nudging me for too many mornings in a row to continue ignoring it.”


Notably, David Marcus is working at the company since 2014. Of course, this is before shifting his focus to financial services in 2018 by founding Meta’s digital wallet Novi. Also, Novi has the same name as the fintech unit, together with co-founding the beleaguered Diem stablecoin project. Currently, operating independently,

“Today is bittersweet, sad to see @davidmarcus leave @Meta, grateful for his leadership and belief in me as the new Head of Novi.”
https://t.co/nxDNlywqVw — Stephane Kasriel (@skasriel) November 30, 2021

Lastly, David Marcus is part of the former execs of the social media giant’s crypto unit to leave the firm over the past 12 months. Which of course, includes fellow Diem co-founders Morgan Beller and Kevin Weil.

Photo credit : CNDC

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