{"id":75393,"date":"2018-08-14T10:00:39","date_gmt":"2018-08-14T17:00:39","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=75393"},"modified":"2019-11-07T02:15:45","modified_gmt":"2019-11-07T02:15:45","slug":"facebook-denies-stellar-partnership-rumors","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/facebook-denies-stellar-partnership-rumors\/","title":{"rendered":"Facebook Denies Stellar Partnership Rumors"},"content":{"rendered":"

David Marcus has stepped down from the Coinbase board, citing a conflict of interest. Facebook goes on record that it will not partner with Stellar, according to Cheddar<\/i><\/a>.<\/p>\n

In a statement to the news outlet, a Facebook spokesperson said:<\/p>\n

\u201cWe are not engaged in any discussions with Stellar, and we are not considering building on their technology.\u201d<\/p><\/blockquote>\n

The news of the rumored partnership came shortly after a Business Insider<\/i><\/a> article, published Aug. 10, noted that the social media behemoth has been speaking with several crypto projects, including Stellar, while it seeks ways to use blockchain technology.<\/p>\n

The article also noted that \u201cFacebook could use blockchain technology to rival big banks\u2019 payment networks.\u201d However, it also stated that the social media site \u201calready appears to be taking other steps to break into banking\u201d and has considered \u201cshowing users their bank balance or fraud alerts.\u201d<\/p>\n

The price of Stellar\u2019s Lumens rose roughly 8 percent following Business Insider\u2019s<\/i> initial report.<\/p>\n

David Marcus Steps Down from Coinbase<\/h2>\n

In addition to the fact that Facebook will not be partnering with Stellar, David Marcus of Facebook has stepped down from the Coinbase board, citing a conflict of interest, according to CoinDesk<\/i><\/a>.<\/p>\n

Marcus, who has been with Facebook since 2014, joined the Coinbase board in December 2018 and according to Business Insider,\u00a0<\/i>also leads the Facebook blockchain team.<\/p>\n

In a statement to Cheddar<\/i>, Marcus said:<\/p>\n

\u201cBecause of the new group I\u2019m setting up at Facebook around blockchain, I\u2019ve decided it was appropriate for me to resign from the Coinbase board. I\u2019ve 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.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

David Marcus has stepped down from the Coinbase board, citing a conflict of interest. Facebook goes on record that it will not partner with Stellar, according to Cheddar. In a statement to the news outlet, a Facebook spokesperson said: \u201cWe are not engaged in any discussions with Stellar, and we are not considering building on […]<\/p>\n","protected":false},"author":70,"featured_media":75563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nFacebook Denies Stellar Partnership Rumors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/facebook-denies-stellar-partnership-rumors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Facebook Denies Stellar Partnership Rumors\" \/>\n<meta property=\"og:description\" content=\"David Marcus has stepped down from the Coinbase board, citing a conflict of interest. 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