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Facebook's David Marcus leaves Coinbase board

Facebook executive David Marcus speaks at a conference.
Facebook executive David Marcus. Photo by Pedro Fiúza/NurPhoto via Getty Images

Facebook executive David Marcus has resigned from the board of cryptocurrency exchange Coinbase, according to Coindesk.

Why it matters: Marcus was leading Facebook Messenger when he joined the Coinbase board last December, but he subsequently launched an internal group seeking to "leverage blockchain" for the social network. His resignation suggests that there could soon be some sort of competition between the two companies.