Leading Facebook digital currency engineers leave to join Andreessen Horowitz’s crypto fund
Facebook was on a mission to recruit the top engineers in the world to work on their Novi digital wallet. To do so, they recruited leading engineers like Riyaz Faizullabhoy and Nassim Eddequiouaq to work on their digital currency and blockchain projects. In what seems to be a downward spiral for Facebook, these two top engineers have decided to leave Facebook and be a part of Andreessen Horowitz’s crypto team. Both Faizullabhoy and Eddequiouaq had been working on the Novi digital wallet for the past two years. However, the Novi wallet has met obstacles from its very beginning. Legislators and regulators worldwide were vehemently against the idea of Facebook’s own digital currency wallet. Many top leaders of Facebook associated with this project have already left the company.
Andreessen Horowitz’s crypto team is called a16z Crypto. In June of this year, a16z Crypto declared a fresh $2.2 billion crypto-focused fund. Faizullabhoy will work as chief technology officer and Eddequiouaq will work as the chief information security officer for a16z Crypto. Both are among the top blockchain engineers in the world right now. Their inclusion will benefit a16z Crypto immensely.
For quite some time now, Andreessen has been a leading name in crypto circuits around the world. With multiple intelligent crypto investments, Andreessen is often considered an expert in crypto-related transactions. In the context of growing interest in crypto, a16z Crypto has the potential to have a strong presence in the market. With new engineers on board, the future of a16z Crypto looks good.