Facebook's David Marcus Steps Down From Coinbase's Board

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David Marcus is stepping down from the board of directors at cryptocurrency exchange Coinbase, citing his new assignment at Facebook leading the social media giant’s blockchain strategy. Marcus, a vice president at Facebook since 2014, joined the board at Coinbase, now valued at $8 billion, in December of last year. At the time, CEO Brian Armstrong said Marcus, who was once president of PayPal, would apply his expertise in the “payments and mobile space” to guide Coinbase in its overall mission. Five months later, Marcus was named Facebook’s new blockchain research lead. The company has not released any details about the work it is doing in the field, though Marcus’ team reportedly has fewer than a dozen members. He has notably indicated in past remarks that Facebook may embrace blockchain, specifically referencing the idea of sending cryptocurrency payments through its Messenger app. In a statement provided to CoinDesk Friday, Marcus said his decision to