David Marcus resigns from Coinbase

David Marcus, the Blockchain manager at Facebook, recently announced his resignation as a board member at the US cryptocurrency exchange Coinbase.

David Marcus eclipses

After joining the board of directors of Coinbase in December 2017 Marcus subsequently participated in a research group on Facebook's use of Blockchain in May. Now is the time to "fly to new horizons," he said.

"Because of the new group around the Blockchain that I set up at Facebook, I decided it was time for me to resign from the board of directors position at Coinbase. "

"I was very impressed by the talent and execution the team has shown during my tenure, and I wish the team every success they deserve for the future. "

Facebook seems to fuel rumors

Meanwhile, rumors about Facebook's potential acquisition of Coinbase continue. Moreover, the social media has authorized an advertising campaign of the crypto-stock exchange on its platform, suspending its ban which was put into effect in January 2018 .

There also appears to be a "conflict of interest" with respect to Marcus' decision to relinquish his position to another potential candidate.

Facebook spokesman addresses CNBC stating that "his resignation will avoid the appearance of a conflict of interest. "

"Facebook is about to become one of the key players in the cryptocurrency industry under David's leadership," said Ryan Gilbert, Partner of Propel Venture Partners and Investor at Coinbase.

"Who knows, one day, the acquisition of Coinbase could be an option," he said.

What do you think of David Marcus leaving Coinbase to avoid the appearance of a conflict of interest?Comment in the comments section below.

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