{"id":189136,"date":"2018-11-01T13:11:28","date_gmt":"2018-11-01T17:11:28","guid":{"rendered":"https:\/\/insidebitcoins.com\/news\/coinbase-exchanges-new-head-of-trading-resigns\/189136"},"modified":"2021-07-29T10:56:09","modified_gmt":"2021-07-29T14:56:09","slug":"coinbase-exchanges-new-head-of-trading-resigns","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/coinbase-exchanges-new-head-of-trading-resigns","title":{"rendered":"Coinbase Exchange\u2019s New Head of Trading Resigns"},"content":{"rendered":"

\"\"<\/p>\n

The head of trading for leading US cryptocurrency exchange Coinbase<\/a> is reported to have resigned<\/a> after only 6 months with the company. Sources say that Hunter Merghart expressed interest in exploring \u201cother opportunities.\u201d Interestingly, the former Coinbase exec who hired Merghart, Adam White, also left Coinbase last month to become the chief operating officer at New York crypto-startup Bakkt<\/a>.<\/p>\n

Merghart began working at Coinbase Institutional at the beginning of May 2018. Prior to Coinbase, Merghart had worked since 2015 at the UK\u2019s largest bank, Barclays, as director of US equity trading.<\/p>\n

CoinDesk<\/em> reports that a frustrated Merghart left Coinbase due to a lack of resources or clarity on how the company planned to build its institutional business. Amidst a record breaking year in terms of overall growth, the San Francisco-based exchange has faced numerous setbacks in the form of departures from employees in upper management positions and a series of\u00a0customer complaints<\/a>. Also, after only being active for four months, Coinbase recently announced<\/a> that it would be shutting down its Coinbase Index fund.<\/p>\n

Despite the failure of the company\u2019s index fund, Coinbase continues to move forward with the rollout of new products directed towards institutional investors. The exchange recently received<\/a> another $300 million in its Series E funding round, which will be put towards further developing the institutional side of the business, along with additional support for Coinbase Custody.\u00a0Coinbase President and COO Asiff Hirji told Bloomberg<\/a> <\/em>in a recent interview that he believes growing custody and institutional businesses will account for a large share of future revenues.<\/p>\n

\u201cOur revenues currently are 100 percent transnational,\u201d said Hirji. \u201cThe custody businesses and other [institutional] businesses are more fee based or AUN based. So what you will see is that will grow as part of our overall revenue, which will give us more predictability in our revenue stream.\u201d<\/p>\n

Ultimately, the recent departures of White and Merghart, while frustrating for Coinbase, hardly leaves the company short on talent. This year Coinbase has locked down a number of key hires, including Jonathan Kellner, Chris Dodds and Oputa Ezediaro. Kellner is the former Instinet CEO who is now serving as Coinbase\u2019s new managing director of the Institutional Coverage Group. Dodds is a former Charles Schwab advisor, now acting as part of Coinbase\u2019s board of directors, and Ezediaro was previously a JPMorgan executive director, who is also working on Coinbase\u2019s Institutional Coverage Group.<\/p>\n

The post Coinbase Exchange\u2019s New Head of Trading Resigns<\/a> appeared first on UNHASHED<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The head of trading for leading US cryptocurrency exchange Coinbase is reported to have resigned after only 6 months with the company. Sources say that […]<\/a><\/div>","protected":false},"author":1316,"featured_media":189139,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\nCoinbase Exchange\u2019s New Head of Trading Resigns - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"The head of trading for leading US crypto exchange Coinbase is reported to have resigned after only six months with the company.\" \/>\n<meta name=\"robots\" content=\"max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/189136\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase Exchange\u2019s New Head of Trading Resigns\" \/>\n<meta property=\"og:description\" content=\"The head of trading for leading US crypto exchange Coinbase is reported to have resigned after only six months with the company.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-01T17:11:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-29T14:56:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2018\/11\/Coinbase-3-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1154\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Jacob Godshall\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jacob Godshall\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/189136#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/189136\"},\"author\":{\"name\":\"Jacob Godshall\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/23fded23d5ae1622d9eb517e4d3334f9\"},\"headline\":\"Coinbase Exchange\u2019s New Head of Trading Resigns\",\"datePublished\":\"2018-11-01T17:11:28+00:00\",\"dateModified\":\"2021-07-29T14:56:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/189136\"},\"wordCount\":419,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"articleSection\":[\"More Crypto News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/189136#primaryimage\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/189136\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/189136\",\"name\":\"Coinbase Exchange\u2019s New Head of Trading Resigns - 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