Coinbase CTO Balaji S. Srinivasan announced his resignation from the crypto exchange giant in a series of Tweets. The Earn.com founder decided to leave the company and we are about to find out why in our coming altcoin news below.
“Coinbase was fun and it was energizing working with so many great people. I’ll be taking a bit of time off to get back in shape — and up to speed on everything happening while I was heads down. More soon!”
Earn.com was purchased by Coinbase back in 2018 and Srinivasan was made the CTO of Coinbase after a couple of months later. His company started as a well-funded company that was a secret at the beginning. It also released a mining product before switching to providing answers for users as a service. He explained the integration:
“The Earn integration was successful and we’ve closed ~$200M in deals for the new Coinbase Earn. Was also my privilege to help with shipping new assets, launching USDC, & getting staking/voting going.”
The Coinbase CTO was a Stanford graduate with a Ph.D. in Electrical Engineering. He also holds a masters degree in Chemical Engineering. The rumors of his exit say that he wanted to go on a whole other direction that the crypto exchange company. A Coinbase spokesperson wrote:
“We are very grateful to Balaji for all of his contributions to Coinbase. His efforts over the past year have had a major impact on the trajectory of the company. He’s on to his next challenge and we wish him well.”
Srinivasan announced his departure from the company two days ago on Twitter as the best cryptocurrency news sites report. In the tweet, he didn’t explain the reasons for leaving the company but simply that he will take time to get back in shape.
It turns out, that Coinbase already lost three senior executives in the past six months. The exchange giant also closed its offices in Chicago and laid off more than 30 employees. The Coinbase CTO is just another one leaving the company for still unclear reasons. Some believe that the prolonged bear market is the one to blame but we will just need to wait to find out.
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“With Skyweaver using Ethereum, it means you can send your cards to your friends, trade them with other players on our platform, trade them on another website, buy/sell them on Reddit, burn them, lend them to people that want to play with your cards while you are on vacation, etc. Basically, we can't prevent you from doing whatever you want with these cards, just like physical cards.”SkyWeaver is now working in a private beta and is expected to launch later this year and in the meantime Horizon is inviting new players to try out the game every week as we read in the reports in the coming altcoin news.
Crypto Exchange Poloniex Drops 23 Pairs Due To Low Volume
‘’We will be removing 23 trading pairs on August 16, 2019, due to low volume. Note that each asset will continue to be independently tradable.’’More than half of the listed pairs are in ETH, about six are XMR pairings and the rest are stabelcoin pairs for the various obscure altcoins. Some of them include Loom Network/ USDT which has $50 traded in the past day, Status/USDT with just $157, Bancor/USDT trading only $75 per day, FOAM/USDC and the worst performing pair which is the Khyber Network/USDT. Some of the ETH pairs were popular altcoins with high volumes such as Golem, Qtum, GAS, Steem, OmiseGO and Civic but after bitcoin, Ethereum and Zcash as top pairs on the exchange, all others burst into flames. The Monero paris aside from BTC and stablecoins will also be dropped because of the low volumes. This could only be the case of falling volume on that particular exchange because the same pairs on Binance are doing really well. Compared to two years ago in 2017, the altcoin scene looked a lot different than today and many of the altcoins have now falled off the digital cliff in terms of token price regardless of other developments on the project by the respective teams. Two years ago in August, IOTA was the fifth largest cryptocurrency by market cap which was priced at $0.94 with a $2.6 billion market cap. Today as we can read in the latest cryptocurrency news, IOTA is struggling to say in the top twenty and is down by more than 75%. The Crypto Exchange Poloniex drops the pairs and we shall see if any major fluctuations will happen.
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