Coinbase loses another executive member despite crypto market boom

Coinbase, one of the biggest cryptocurrency exchanges in the United States, has just lost its president and COO, Asiff Hirji, reports CCN. Hirji has only held this position for fewer than two years at the San Francisco office. He revealed this via Twitter, saying:

“Coinbase tour of duty over. Scaled to over $1 billion in revenue; launched new assets, countries, and products; achieved $8b valuation; and built out team. Company in a far better place and ready for next chapter. Cheering on Brian Armstrong and the rest of the team.”

End of an era

Apparently, before Coinbase, Hirji worked at TD Ameritrade. But, since he’s been around for the past two years, he’s obviously seen crypto through some of its bad times. Not only that, but he joined the industry during this as well. So, it’s understandable that one may wonder why he left, especially since the market is finally on its up. However, Hirji isn’t the only high-level member to have taken his leave from the company.

Christine Sandler, once the head of U.S. Sales at Coinbase, recently left for Fidelity’s Digital Assets Group. Then, Adam White, another executive, left for the Bakkt futures exchange. This leads one to wonder about the state of Coinbase and why so many executives are leaving.

“We’re incredibly grateful for Asiff’s contributions over the past 18 months,” said founder Brian Armstrong on Twitter. “His experience and mentorship helped guide Coinbase through an important chapter in its history. He joined at a critical time when both the company and crypto space were going through rapid growth, bringing his extensive experience to bear when it was most necessary.”

On top of this news, Binance has been having a great year reports the publication. Its own currency, Binance Token, has had a 550% increase in 2019 despite the recent hack in which attackers stole tons of Bitcoin from the exchange’s Bitcoin wallets.