Morgan Beller, the person behind Facebook’s digital currency Libra, or also known as Novi , has reportedly resigned from the company. As per Techcrunch, Morgan quit from her role of Head of Strategy at Novi to become part of NFX in the capacity of general partner. NFX is a San Francisco based venture capital who deals in seed investments.
Morgan’s long association with the project
Twenty-seven years old Morgan Beller was one of the founding members of the digital currency Libra. In 2019, Beller and David Marcus, former Paypal president and currently Vice-President of Facebook, developed the idea from scratch. Beller is the one to be credited for being the driving force behind Facebook’s entry in the cryptocurrency world. In 2017, when she started working at Facebook, the potential of 2 billion user bases and how it can be integrated with the blockchain technology captured her attention. With her efforts, Facebook’s Libra and Calibra, presently Novi, was tentative to launch by the mid-2020. But with her departure, the project is expected to face added delay in launch.
Possible impact from her leaving?
When quizzed about the reasons to leave Libra, Beller commented that she is a fangirl of Libra and loves Libra. She further added that she is not going away and will act as an advisor, and in any additional capacity, she can be part of the project.
On NFX, Bellar said although she was highly invested in Libra and is still planning to act as advisor till its launch. But when the NFX approach to join them proved irresistible and seemed like an opportunity to grab, she said. She will be pursuing her interests in the blockchain at NFX but not limited to it and will be open to explore new technologies.
What is NFX?
NFX was founded in 2015 and since then has focused on firms and companies with potential with network effects. NFX has always worked with companies whose value and capability increases with the increase in the user base. James Currier, General Partner of NFX, commented that a person like Beller is hard to find and comes only once in every 10 to 15 years. He further added that Beller’s maturity, curiosity, intellect and the way her mind connects to the new markets is what made NFX approach her.
