A key Facebook executive is leaving the company this month

David Marcus, head of Facebook’s Diem digital currency and wallet project, will resign from the company at the end of December.

Marcus, who leads Facebook’s cryptocurrency wallet project Novi, announced on Twitter his decision to leave the company, which was renamed Meta Platforms, Inc.

Marcus explained that there is “a lot to do” after Novi’s launch, but added that he believes the mission will continue under his successor, Stephane Kasriel.

The outgoing Novi CEO thanked Meta CEO Mark Zuckerberg for the “opportunity and privilege” in a Twitter post.

Casriel said on social networks that he was grateful to Marcus for his leadership and believed he was Novi’s new boss.

because it matters
Meta launched a pilot of its Novi cryptocurrency wallet in the U.S. and Guatemala in October, but faced opposition from the U.S. Democratic Senate bloc.

According to Cointelegraph, the social media giant plans to launch the Diem cryptocurrency alongside the wallet after receiving regulatory approval.

In April, well-known bitcoin short seller billionaire Mike Novogratz bitcoin

and Dogecoin

, announcing his purchase of Facebook shares as a cryptocurrency game. He cited Facebook’s strong user base of 2,400 users as one of the reasons for his purchase.

price fluctuation​
Shares of Facebook closed up nearly 4% at $324.46 in regular trading on Tuesday, and rose a further 0.6% in after-hours trading.​

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