David Marcus wants to make Bitcoin's Lightning Network the global settlement layer for the internet

Crypto Infrastructure • June 27, 2023, 8:00AM EDT
UPDATED: June 27, 2023, 7:57PM EDT
The Block

Quick Take

  • Lightspark CEO David Marcus shares lessons learned from leading Meta’s Diem project and explains how Bitcoin’s Lightning Network could be a real-time settlement layer for the internet.

Episode 61 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro and Lightspark co-founder and CEO David Marcus.

Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected].

David Marcus is a renowned entrepreneur and executive in the tech industry known for his leadership roles at PayPal and Meta.

In this episode, Marcus unpacks how his latest venture, Lightspark, is helping transform Bitcoin's Lightning Network into a real-time global settlement layer for the internet.

Lightspark raised about $173 million last year at a valuation of almost $1 billion at the time, as reported by The Block.

Outline:

2:33 - David Marcus' Bitcoin journey

5:29 - Lightspark & Bitcoin

9:50 - Lightspark adoption

12:37 - Regulatory tailwinds for bitcoin

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16:33 - Merchant payment innovation

23:25 - Lightspark’s partnerships

26:26 - SEN/SIGNET replacement

28:47 - Lessons learned from libra

40:21 - What’s next for Lightspark

43:43 - Closing thoughts

This episode is brought to you by our sponsors PayPal and CleanSpark.

About PayPal

Make your crypto move with PayPal. Get started today at PayPal.com/crypto

About CleanSpark

CleanSpark (NASDAQ: CLSK) is America’s Bitcoin Miner™. Visit cleanspark.com/theblock to learn more about the CleanSpark way.


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Authors

Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an 'intern' in early 2022, he has worked closely with leaders across departments to translate The Block's written content into engaging multimedia formats. He holds a degree in Social Research & Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.
Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].