Facebook's blockchain boss David Marcus is leaving cryptocurrency startup Coinbase's board (FB)

• Facebook's blockchain boss David Marcus is leaving the board of crypto startup Coinbase.
• His departure is a signal that the social networking giant's secretive blockchain efforts are progressing.
• "Because of the new group I’m setting up at Facebook around Blockchain, I’ve decided it was appropriate for me to resign from the Coinbase board," Marcus said in a statement.

---

In a sign that Facebook's secretive blockchain effort is progressing, David Marcus, the head of that project, announced he's leaving the board of $8 billion cryptocurrency startup Coinbase.

Marcus joined Coinbase's board in December 2017. His decision to resign "was made to avoid the appearance of a conflict of interest," a Coinbase representative told CoinDesk, which first reported the news. The representative did not elaborate further to CoinDesk, and a Coinbase representative did not respond to Business Insider's request for more information.See the rest of the story at Business Insider

NOW WATCH: How movie theaters are ruining your movie

See Also:

• The world's largest maker of bitcoin mining chips is reportedly hoping to raise $18 billion in what could be one of the largest IPOs in history
• The hypocrisy of the Alex Jones purge shows Facebook is morally spineless
• The ex-president of Goldman Sachs says that banks were 'more responsible citizens' before the financial crash than Facebook is now