David Marcus, the creator behind the proposed stablecoin Libra, which was backed by Facebook, came out in support of a Republican administration and former president Donald Trump ahead of the upcoming U.S. elections.

In a post on X on Wednesday, Marcus said he had taken a "gradual political 180" over the years. After the Libra white paper was announced, Marcus said he spoke with lawmakers and made some observations, including that Republicans showed that they wanted to understand Libra's goals and risks. 

"At the time, I still believed the mainstream idea that Democrats were all about serving the People. However, I was shocked to learn that, for the most part, Republicans cared more deeply about their constituents, while Democrats, in my experience, cared more about government …