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.
Ripple And MoneyGram Join Forces: $50M Investment On The Way
“Through Ripple’s xRapid product, we will have the ability to instantly settle funds from U.S. dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”As the website shows, MoneyGram is the second largest payments firm in the world. The coming altcoin news and its partnership with Ripple will also help the blockchain firm to gain presence in more than 200 countries (where MoneyGram actively operates). Much of the company's business lies in the remittances market, which value is estimated at around $600 billion. The CEO of Ripple, Brad Garlinghouse, also shared his excitement about the new Ripple and MoneyGram partnership, stating:
“This strategic partnership will enable MoneyGram to greatly improve its operations and enable millions of people around the world to benefit from its improved efficiency. This is a huge milestone in helping to transform cross-border payments and I look forward to a long-term, very strategic partnership between our companies."Payment processing and sending money globally through the blockchain are definitely something that can be improved with this new partnership. By joining Ripple's growing and global network, financial institutions can process their customers' payments anywhere in the world instantly, reliably as well as cost-effectively.
Europol Aims To Improve Blockchain And Crypto Knowledge
“Participants reflected on the legitimate use of blockchain technologies, including the use of cryptocurrencies for trading and investment activities, payment method and as a store of value.”As noted in the coming altcoin news, blockchain technology spiked the interest in business leaders and governments around the world. There will be a part of every business in the future consisted of blockchain since already some major companies such as Amazon, Google and Microsoft are all into the technology.
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