Ex-Meta executive, David Marcus has announced an upcoming LA-based crypto startup named Lightspark, which is likely to be a crypto payment service of some sort.
The startup is backed by funding from a16z Crypto and Paradigm with participation from Thrive Capital, Coatue, Felix Capital, Ribbit Capital, Matrix Partners and Zeev Ventures.
Lightspark, according to David’s tweet, will “explore, build and extend the capabilities and utility of Bitcoin.”
The startup is putting together a team to research and delve into the Bitcoin Lightning Network, leading to the speculations that Lightspark will be a crypto payments service of some type.
Read Also: What is the Bitcoin Lightning Network? Secret behind Its massive adoption
The bearish market of the crypto industry are “good moments to focus on building and creating value with mission-aligned people,” said David.
The team of Lightspark will include several other ex-Meta employees such as Christian Catalini, who is the co-founder and chief strategy officer of Lightspark.
David Marcus was a crypto fintech executive at Meta, before leaving the company last year. The man left the coveted job to follow his ‘entrepreneurial instincts’, which he seems to be working on with his new project.
