What the Facebook Crypto team could build
Facebook entering the crypto space will be good for bitcoin and altcoins. But over the past several months, the atmosphere in FB has been extremely quiet. But now we know why:
Former head of Messenger David Marcus, who leads the Facebook Crypto team, today announced he was stepping down from the board of Coinbase, the biggest crypto startup. Marcus was formerly the president of PayPal and helped Facebook Messenger adopt chatbot commerce and peer-to-peer payments, so he was both a natural choice for Coinbase’s board and Facebook’s blockchain skunklabs.
Facebook told CoinDesk this was to avoid the appearance of a conflict of interest, which is exactly what it was. Marcus provided a statement to TechCrunch explaining he was stepping down “because of the new group I’m setting up at Facebook around blockchain,” noting that “Getting to know Brian [Armstrong, CEO of Coinbase], who’s become a friend, and the whole Coinbase leadership team and board has been an immense privilege. I’ve been thoroughly impressed by the talent and execution the team has demonstrated during my tenure, and I wish the team all the success it deserves going forward.”
The sooner this crypto project get media attention, the better for the world of crypto. This could be one of those news that the bull is waiting for to start its run. More here
I agree with you that this is good for some of the better cryptos. Many are doomed to fail regardless and I'm not sure if Facebook should be allowed to do an ICO. It would be great if they could airdrop something onto shareholders as that would multiply the amount of people in the cryptosphere