Best News Network

Oracle Hires Chief Legal Officer From Facebook’s Blockchain Project

Oracle said Mr. Levey’s experience in technology, finance and national security would help it navigate the regulatory environment as it expands its cloud business.



Photo:

Paul Sakuma/Associated Press

Oracle Corp.

said it has hired the former chief executive officer of

Meta Platforms Inc.’s

now-closed cryptocurrency project as its new legal chief, the company said Thursday.

Stuart Levey

until June served as the CEO of the Diem Association, Meta Platform’s cryptocurrency project, also formerly known as Libra. 

Stuart Levey



Photo:

DuHon Photography

The Diem Association, the consortium

Facebook

founded in 2019 to build a futuristic payments network, sold its technology to

Silvergate Capital Corp.

, a small California bank that serves bitcoin and blockchain companies. 

Mr. Levey joined the Diem Association in August 2020 after working at

HSBC Holdings

PLC for more than eight years, including serving as the bank’s chief legal officer and managing more than 900 lawyers.

Between 2004 and 2011, Mr. Levey served as the U.S. Treasury Department’s undersecretary for terrorism and financial intelligence, one of the agency’s top officials in charge of imposing sanctions and combating illicit finance. He also held several senior positions at the Justice Department.

Austin, Texas-based Oracle said Mr. Levey’s experience in technology, finance and national security would help the business-software giant to navigate the regulatory environment as it expands its cloud business.  

Representatives for Oracle declined to make Mr. Levey available for an interview.

The appointment comes as Oracle’s cloud businesses lifted the company’s latest quarterly results in September. The company said its cloud revenue grew 45% to $3.6 billion in the latest quarter, and Chief Executive

Safra Catz

said that the company’s two cloud businesses now account for more than 30% of Oracle’s total revenue.

Write to Mengqi Sun at [email protected]

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Technology News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.