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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