Former head of Facebook's Meta coin, David Marcus, launches new venture: Lightspark to focus on Bitcoin Lightning Network applications.

After resigning as the former head of the digital currency and payments division at Meta (Facebook), David Marcus announced on the 13th that he is starting a new venture. His company, Lightspark, will explore Bitcoin applications, with the initial focus on assembling a team to delve into the Bitcoin Lightning Network. Investors in the venture include a16z, Paradigm, Thrive Capital, Coatue, Felix Capital, Ribbit Capital, Matrix Partners, and Zeev Ventures.

After leaving his position as the head of the digital currency and payments division at Meta Facebook, David Marcus announced on the 13th that he will be starting a new venture. The company, Lightspark, will explore Bitcoin applications, with a focus on initially assembling a team to conduct in-depth research on the Bitcoin Lightning Network. Investors in Lightspark include a16z, Paradigm, Thrive Capital, Coatue, Felix Capital, Ribbit Capital, Matrix Partners, and Zeev Ventures. Given the current market downturn, David Marcus believes it is an opportune time for development that can drive more mission-oriented individuals.

I wanted to share that we are starting a new company called @lightspark to explore, build and extend the capabilities and utility of #Bitcoin. As a first step, we’re actively assembling a team to dive deeper into the Lightning Network. (1/3)

— David Marcus (@davidmarcus) May 12, 2022