Latest cryptocurrency news suggests that Facebook, the social media giant, has decided to onboard two compliance experts. These experts are ex-employees of Coinbase, a major cryptocurrency exchange in the United States.
One of the experts, Mikheil Moucharrafie, previously worked with Coinbase for nearly four years prior to becoming Facebook’s compliance officer. While at the crypto exchange, Moucharrafie held a number of positions, including anti-money laundering (AML)/bank secrecy investigator, support analyst, quality assurance tester, risk manager and compliance manager.
The other expert, Jeff Cartwright, spent almost five years working at CoinBase in the following roles: compliance manager, director of regulatory risk and exams, and head of internal audit. Before coming to work for this exchange, Cartwright also worked as an AML compliance investigator at Goldman Sachs and AML consultant at KPMG. Now, he has become a policy and compliance manager at Facebook.
The hiring of Cartwright and Moucharrafie will make the company look good in the public eyes as well as regulatory authorities’ books.
Owing to the rumored cryptocurrency launch, Facebook has consistently been hiring Paypal staff. The company began this mission last year when it onboarded dedicated blockchain staff, under the auspices of a former PayPal president David Marcus. Now, the “PayPal Mafia” — the early 2000s executive group — has formed 20% of the team’s 50 members.
In that same month of March, five new positions were created in Facebook’s HQ blockchain department located in Menlo Park, California. The professionals that were sought to be part of its blockchain team entail a product manager, growth product manager, business operations manager, software engineer, and data scientist.
Rumors have been flying around recently the Facebook has already gotten the “Libra” trademark rights and intends to use it for its super-secret cryptocurrency initiative. Expressly, a reliable source has confirmed that Facebook wants to recruit some financial firms, which it earlier had discussions with them, in its own crypto development project whose code-name is Libra.