"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. "
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.
