Appearance is everything in this market, so the decision of David Marcus, Facebook, to leave Coinbase

in #invest6 years ago

The leader of the Facebook chain, David Marcus, announced that he would resign his position at the US cryptocurrency meeting, Coinbase, on Friday, August 10, in a statement that several media outlets saw.

Marcus, who joined the exchange meeting in December 2017 and faced a Blockchain research group on Facebook in May, said he now believes it is "appropriate" to leave.

"Due to the new group that I am setting up on Facebook around Blockchain, I decided that it was appropriate for me to resign from the Coinbase board ... I have been very impressed by the talent and execution that the team has shown during my tenure, and I wish the team all the success it deserves in the future. "

The decision comes as rumors circulate about a potential acquisition of Coinbase by Facebook. Last month, the social media platform allowed the exchange to publicize its services, reversing a ban that went into effect in January.

As a result, the media cited sources suggesting that he perceived a "conflict of interest" in Marcus's heart by renouncing the space on the board.

According to the Facebook spokesman who spoke with CNBC, the measure was "to avoid the appearance of a conflict, instead of a real conflict."

"Under David's leadership, Facebook is ready to be one of the leading players in encryption and an active buyer," Ryan Gilbert, a partner at Propel Venture Partners and a junior investor at Coinbase, told the publication on Saturday.

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