David Marcus and His Calibrated Effort to Save Libra

Marcus is currently the head of Calibra, a subsidiary of Facebook and the official wallet provider for the Libra cryptocurrency.

Unveiling LibraIn late 2018, Facebook's initiative to develop its own digital stablecoin thrust Marcus into the spotlight of the crypto scene, as the tech entrepreneur was reported to be heading the effort.

Following the official announcement of the Libra project, Marcus became a frequent newsmaker by either attempting to quell concerns around the project or making assurances about its future.

Ahead of the hearings, Marcus wrote a letter addressed to Democratic Rep. Maxine Waters - who had previously summoned Facebook to Capitol Hill - in which he said that Calibra and the Libra Association would cooperate with the lawmakers.

Solidifying the positionOn Sept. 25, Marcus wrote an extensive blog post covering the advantages a blockchain-based payment system like Libra may have over traditional methods.

Marcus concluded the post by saying that he believes the Libra way is ambitious, since it does not follow the traditional system.

On Oct. 14, Marcus became a member of the board of directors of the Libra Association, representing Facebook.

On Oct. 20, it became clear what Marcus meant, as it was reported that the Libra cryptocurrency could now be based on a pool of stablecoins that represent national currencies, saying, "That is one of the options that should be considered."

Marcus ended October 2019 by stating that Anti-Money Laundering and Know Your Customer procedures will be much tougher on the Libra network than elsewhere.

During the same interview, Marcus also confirmed what many had believed all along: He was expecting scrutiny as soon as Libra was announced.