San Francisco, Aug 11 (IANS) 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.
(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)
(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)
(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)
We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.
Liked this story? We'll send you more. Subscribe to The Quint's newsletter and get selected stories delivered to your inbox every day. Click to get started.
The Quint is available on Telegram & WhatsApp too, click to join.