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1-min read

Facebook's Blockchain Head Quits Coindesk

His departure comes after Facebook exempted Coinbase from its recent ban on cryptocurrency-related ads.

News18.com

Updated:August 11, 2018, 3:13 PM IST
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Facebook's Blockchain Head Quits Coindesk
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David Marcus, Facebook's new Blockchain Research Head, has stepped down from the board of directors at cryptocurrency exchange Coinbase, the media reported. According to a report in CoinDesk on Friday, Marcus said his decision to resign was "because of the new group I'm setting up at Facebook around Blockchain."

His departure comes after Facebook exempted Coinbase from its recent ban on cryptocurrency-related ads.

Besides creating a new Blockchain group, Facebook is also exploring the creation of its own cryptocurrency.

According to tech website Cheddar, Facebook is "very serious about it".

Recode had first reported that Facebook was building a new team dedicated to Blockchain technology.

The Blockchain team would come under "New platforms and infra" run by Chief Technology Officer (CTO) Mike Schroepfer, who will also take care of Facebook's AR, VR and Artificial Intelligence initiatives.

(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Sarthak Dogra
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