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
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
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 mengqi.sun@wsj.com
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8