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Facebook's Blockchain Head quits Coindesk

IANS  |  San Francisco 

David Marcus, Facebook's new Research Head, has stepped down from the board of directors at 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 around "

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

Besides creating a new group, 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

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



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, August 11 2018. 10:44 IST