David Marcus, former PayPal CEO and current Lightspark CEO, has endorsed former President Donald Trump in the presidential election.
In an X post, Marcus announced that he is “crossing the Rubicon” and endorsing the Republican Party after evaluating new facts. The former Meta CEO shared that his insights began in 2019, shortly after the Meta announced the Libra white paper . Libra was a digital currency project within Meta, designed to create a stablecoin payment system.
Marcus shared that he initially believed in the widespread belief that Democrats were dedicated to serving the people. However, he was surprised to discover that Republicans seemed to care more about their constituents. The Democrats, on the other hand, were more focused on power and government control.
“I also found that more Republicans wanted to understand the goals of our project and took the time to learn about the risks of censoring payments and controlling the network,” – he said. “I found that I was extremely united with them.”
Former PayPal director speaks out in favor of pro-Bitcoin president
Marcus noted that he now sees a complete shift away from core American values such as meritocracy. He criticized the “weaponized” DEI program and the open-door policy against mass illegal immigration.
“This shift is also causing us to fall behind because of an anti-innovation regulatory climate, especially in the area of cryptocurrencies and soon AI – two non-linear technological breakthroughs that will likely define the leading countries of tomorrow,” – he said.
He said the United States needs a president who supports America, the Constitution, business, Bitcoin and cryptocurrencies, and innovation, among other priorities.
Trump recently had a lot of good things to say about cryptocurrencies. At the Bitcoin 2024 conference, he shared his plan to make the U.S. the cryptocurrency capital of the world if re-elected. He also said he would fire SEC Chairman Gary Gensler on his first day back in office.
“We’re going to have regulations, but from now on the rules will be written by people who love your industry, not hate it,” – Trump said.
Several celebrities have endorsed Trump for the 2024 presidential election. Supporters include Elon Musk, Gemini founders Tyler and Cameron Winklevoss, venture capitalists David Sacks and Chamath Palihapitiya, Ark Invest CEO Cathie Wood and Bitcoin magazine CEO David Bailey.
