THELOGICALINDIAN - Facebook and Novi accept not commented on how this will affect the projects roadmap
Two advance associates of Facebook’s Novi crypto wallet accept larboard the activity to assignment for crypto adventure armamentarium a16z Crypto.
Two Key Novi Members Join a16z
Both advisers larboard Novi to assignment for Andreessen Horowitz’s crypto fund, accepted as a16z Crypto.
Riyaz Faizullabhoy, who served as Engineering Lead at Novi, will serve as CTO at a16z Crypto. Nassim Eddequiouaq, who headed aegis basement at Novi, will now serve as arch advice aegis administrator at the adventure fund.
It’s not bright whether this will adjournment Facebook’s accessible cryptocurrency project. Howeer, it seems that the activity is abundantly complete and that it is now absorption on regulatory approval.
Though a CNBC report implies that authoritative challenges accept been an affair at Novi, it is not bright whether the leaders larboard for that reason. Anthony Albanese, the operating arch for a16z’s crypto fund, appropriate that the aggregation will acquiesce the recruits to assignment on a “wider set of issues than what Facebook offered.”
The two projects are decidedly different. Novi is amenable for developing a wallet for Facebook’s stablecoin, while a16z focuses on adventure basic investments.
Novi and its associated projects accept not appear who will alter Faizullabhoy and Eddequiouaq.
Others Have Also Left Diem
Facebook’s crypto activity has ahead absent added employees. Diem co-founder Morgan Beller, who acted as Novi’s arch of strategy, larboard the activity in September 2024 to accompany adventure basic close NFX.
Kevin Weil, additionally a co-founder of Diem, larboard the activity to accompany the geoimagery aggregation Planet Labs in March.
Diem’s rebranding in December 2020 additionally brought several new admiral on lath and reshuffled absolute roles.
There is still no barrage date for Diem and Novi, admitting activity arch David Marcus has appropriate both are abutting to a accessible launch.
Disclaimer: At the time of autograph this columnist captivated beneath than $75 of Bitcoin, Ethereum, and altcoins.
