Marc Andreessen speaking at the 2017 ReCode Conference on May 30, 2017.
Asa Mathat for Vox Media
two your facebook Top engineers in the blockchain and digital currency project have left the company to join Andreessen Horowitz’s crypto team, the venture capital firm told CNBC on Monday.
Riyaz Faizullabhoy and Nassim Eddequiouaq have spent the last two years working at Facebook. new Digital wallet originally called Calibra. This effort has faced stiff resistance from regulators and legislators around the world, and a number of high-profile leaders have left.
Faizullabhoy and Eddequiouaq will serve as chief technology officer and chief information security officer, respectively, on Andreessen’s crypto team, dubbed the crypto team. a16z crypto. In June, the company launched a new $2.2 billion cryptocurrency-focused fund.
“Andreessen Horowitz has shown impressive dedication to advancing the entire crypto ecosystem over the past decade, and we have had the opportunity to join his leading team and provide technical support to their rapidly expanding portfolio,” Faizullabhoy told CNBC. Said.
Riyaz Faizullabhoy, who has spent the last two years working on Facebook’s Novi digital currency wallet, joins Andreessen Horowitz as chief technology officer of the venture capital firm’s a16z Crypto team.
Courtesy of Andreessen Horowitz
Company announces Calibra and Libra digital currency With much fanfare in 2019 and said it hopes to launch the products in 2020. Less than three months into 2021, neither has been released, although their names have changed. Calibra Novi became, and Libra’s name changed to Diem last year.
Morgan Beller, One of the founders of Facebook’s cryptocurrency, left his position As head of strategy for Novi to join venture capital firm NFX in September 2020. co-creator Kevin Weil left in March to join Planet Labs, the satellite imagery company.
Marc Andreessen, co-founder of a16z in 2009, Facebook’s board of directors since a year before opening his firm. Anthony Albanese, the fund’s chief operating officer, said the crypto team has around 50 members, including outside advisors. According to its website, the group has made three dozen investments, including digital currencies, trading services and other crypto funds.
Nassim Eddequiouaq is joining Andreessen Horowitz as head of information security for the venture capital firm’s a16z Crypto team, after spending the last two years working on Facebook’s Novi digital currency wallet.
Courtesy of Andreessen Horowitz
Albanese said the startup’s crypto strategy will allow Faizullabhoy and Eddequiouaq to work on a broader set of issues than Facebook has presented.
“They will provide advice to our portfolio companies and protocols to help ensure they have the most secure and advanced systems around,” Albanese said.
“They were making a Facebook wallet,” he said. “It was more specific. Whereas, I think here, they will really have an opportunity to impact the crypto ecosystem on a very large scale.”
The duo worked at Anchorage, a digital asset bank startup, before joining Facebook. At Facebook, they set up the technological infrastructure to keep the digital currency in the company’s Novi wallet.
“Crypto is a once-in-a-generation step change in technology with unlimited potential to empower everyone,” Eddequiouaq said in a statement. Said. “It also introduces a unique set of complex security issues that every crypto project must recognize and address.”