Ex-PayPal President Endorses Trump, Advocates for Pro-Bitcoin Policies
David Marcus, former PayPal president and current Lightspark CEO, endorsed former President Donald Trump for re-election on Wednesday.
In an X post, Marcus announced he was “crossing the Rubicon” and supporting the Republican Party after evaluating new facts. The former Meta CEO shared that his realizations began in 2019, shortly after Meta announced the Libra white paper. Libra was a digital currency project under Meta, designed to create a stablecoin payment system.
Marcus shared that he initially believed the common notion that Democrats were dedicated to serving the people. However, he was surprised to find that Republicans seemed to care more about their constituents. In contrast, he felt that Democrats were more focused on government power and control.
I am crossing the Rubicon and backing the Republican Party and President Trump.
Many — including a former version of myself — get trapped in a mental framework that becomes their identity and prevents them from radically evolving their thinking with new facts and information. I…
— David Marcus (@davidmarcus) July 31, 2024
“I also found that more Republicans wanted to understand our project’s goals and took the time to learn about the risks of censoring payments and controlling the network,” he said. “I found myself remarkably aligned with them.”
Marcus noted that he sees a complete departure from core American values such as meritocracy today. He criticized a “weaponized” DEI agenda and the open-door policy toward massive illegal immigration.
“This shift is also causing us to fall behind due to an anti-innovation regulatory climate, notably on crypto and soon AI — two non-linear technological breakthroughs that will likely determine tomorrow’s leading countries,” he said.
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