Facebook VP joins Coinbase board

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David Marcus

Digital currency exchange startup Coinbase has announced the appointment of a Facebook executive to its board of directors.

According to a Coinbase statement, David Marcus, vice president of messaging products at Facebook, and previously president of online payment giant PayPal, has joined its board of directors.

Marcus has reportedly said that he has been “fascinated by cryptocurrencies since 2012″.

He joined Paypal after his own mobile payment startup Zong was bought up by eBay for nearly a quarter of a billion dollars in 2011.

The announcement came on 13 December, the same day that Coinbase temporarily halted trading for litecoin and ethereum due to a “major outage” amid surging prices for both cryptocurrencies.

With bitcoin’s price also rampant, the firm has been onboarding record numbers of new users, while the firm’s iOS app has climbed to the top spot on Apple’s U.S.-based App Store.

 

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