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Oracle Hires Chief Legal Officer From Facebook’s Blockchain Project

Oracle stated Mr. Levey’s expertise in know-how, finance and nationwide safety would assist it navigate the regulatory atmosphere because it expands its cloud enterprise.



Picture:

Paul Sakuma/Related Press

Oracle Corp.

stated it has employed the previous chief government officer of

Meta Platforms Inc.’s

now-closed cryptocurrency challenge as its new authorized chief, the corporate stated Thursday.

Stuart Levey

till June served because the CEO of the Diem Affiliation, Meta Platform’s cryptocurrency challenge, additionally previously referred to as Libra. 

Stuart Levey



Picture:

DuHon Images

The Diem Affiliation, the consortium

Facebook

based in 2019 to construct a futuristic funds community, sold its technology to

Silvergate Capital Corp.

, a small California financial institution that serves bitcoin and blockchain firms. 

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

HSBC Holdings

PLC for more than eight years, together with serving because the financial institution’s chief authorized officer and managing greater than 900 legal professionals.

Between 2004 and 2011, Mr. Levey served because the U.S. Treasury Division’s undersecretary for terrorism and monetary intelligence, one of many company’s prime officers in command of imposing sanctions and combating illicit finance. He additionally held a number of senior positions on the Justice Division.

Austin, Texas-based Oracle stated Mr. Levey’s expertise in know-how, finance and nationwide safety would assist the business-software large to navigate the regulatory atmosphere because it expands its cloud enterprise.  

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

The appointment comes as Oracle’s cloud companies lifted the company’s latest quarterly results in September. The corporate stated its cloud income grew 45% to $3.6 billion within the newest quarter, and Chief Govt

Safra Catz

stated that the corporate’s two cloud companies now account for greater than 30% of Oracle’s complete income.

Write to Mengqi Solar at mengqi.sun@wsj.com

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