Facebook’s crypto Chief David Marcus has been appointed as head of a new initiative called Facebook Financial (F2), Bloomberg has learned.
The newly-formed team will reportedly manage all the social network's payments projects, including Facebook Pay.
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While Marcus has been appointed as head of F2, he is also still in charge of Novi, Facebook's renamed and rebranded digital wallet.
Facebook has also hired former Upwork CEO Stephane Kasriel and appointed him as F2 Vice President.
"We have a lot of commerce stuff going on across Facebook. It felt like it was the right thing to do to rationalize the strategy at a company level around all things payments," Marcus added.
iHodl previously reported that several crypto entrepreneurs were preparing to file a class action lawsuit against Google, Facebook and Twitter regarding the damages suffered from the ban on advertising crypto-related content.
In particular, these entrepreneurs hired the Sydney-based law firm JPB Liberty to defend their interests in court.
They claim the measures adopted by Google, Facebook and Twitter seriously harmed the legitimate development of their business, as the technology giants had banned them from using the world's largest advertising platforms to attract potential customers back in 2018.
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