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    Moxie Marlinspike is leaving Signal; here’s where we suspect he’s headed and why – TechCrunch

    Moxie Marlinspike, founder of the very popular encrypted communication app Signal, today Blog post Resigning in a move he says he has been working for several months.

    Unexpectedly, this move is MobileCoin, A cryptocurrency startup that counts Marlinspike as the first technical advisor.

    Last spring, 8-year-old Signal, with more than 40 million monthly users, began testing integration with MobileCoin. It states that it focuses on enabling privacy-protected payments through “almost instant transactions” over the phone.But like wired Reported last week, “A much broader stage of the experiment is quietly underway since mid-November, when Signal will allow all users access to the same features without fanfare, rather than credit card transactions or Bitcoin transfers. We have made it possible to send much more private digital payments to millions of phones. “

    MobileCoin founder Joshua Goldbard told Outlet that this deployment has facilitated the massive adoption of cryptocurrencies, telling Wired: Encrypted payment within 5 seconds. “

    In particular, you first need to load the cryptocurrency into your wallet. As Wired’s note, it is only sold on a few smaller crypto exchanges, including FTX, and is not yet available to US consumers. (FTX founder and CEO Sam Bankman-Fried is one of many investors investing in MobileCoin through his quantitative trading company and cryptocurrency liquidity provider Alameda Research.)

    Even Americans will soon have access to currencies, but Goldbard told Wired, pointing out recently signed contracts, including contracts with cryptocurrency payment processors. Zero hashThis will allow US residents to purchase MobileCoin within the first few months of this year.

    Meanwhile, going around the world was good for MobileCoin. MobileCoin raised $ 66 million in Series B funding last summer at a valuation of $ 1.066 billion and is in the process of raising a Series C round at a valuation, according to sources close to the company. One source describes it as “a single-digit high billion dollars.”

    MobileCoin’s growth also casts doubt on Signal and Marlinspike, who appears to be trying to keep some distance between themselves and MobileCoin. One of the obvious reasons for focusing on Signal employees was one who told reporter Casey Newton last year that he saw Signal’s cryptocurrency survey as follows: Risky Then invite a malicious person to use the platform.

    A potentially big but relevant concern for critics is that integrating privacy coins can be a legal headache for Signal. Matt Green, a cryptographer at Johns Hopkins University, told Wired last week: .. “

    That is a valid concern.As we did Said earlierCryptocurrencies and messaging apps have historically not been well mixed due to nervous regulators. Founded in 2009 by a group of students at the University of Waterloo, Kik Messenger, a mobile messaging app, has created a digital currency called Kin for users to use within the platform. The project eventually led to a long-standing battle with the Securities and Exchange Commission and almost destroyed the company. Telegram is a messaging app that is much larger than Signal, claiming to have over 500 million monthly active users. Abandoned plan After many years of fighting the SEC, provide a unique decentralized cryptocurrency to anyone with a smartphone.

    Even Facebook didn’t get much with its own cryptocurrency project.David Marcus, a longtime leader in that effort, said in November Leave the company..

    It’s not surprising that Marlinspike appears on MobileCoin, but it’s even more surprising to see Marlinspike become involved in some abilities.

    Neither Goldbard nor Marlinspike have responded to today’s request for more information, but when Marlinspike asked if he would consider taking over MobileCoin as CEO (the company doesn’t), sources near him said. , He says, “I don’t.” I’m just taking a break now.

    I understand. If we are wrong, we are not promised to eat shoes. (It happens!)

    For now, Marlinspike wrote in his post, he remains on Signal’s board of directors while Signal continues to look for a new CEO. Brian Acton, co-founder of its executive chair WhatsApp, will be Signal’s interim CEO for the foreseeable future.

    Moxie Marlinspike is leaving Signal; here’s where we suspect he’s headed and why – TechCrunch Source link Moxie Marlinspike is leaving Signal; here’s where we suspect he’s headed and why – TechCrunch

    The post Moxie Marlinspike is leaving Signal; here’s where we suspect he’s headed and why – TechCrunch appeared first on California News Times.

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