Srinivasan did not go into the detail but said he will take time off to get fit, before launching with a new product.
The multi-billion dollar cryptocurrency company Coinbase loses its CTO Balaji Srinivasan after joining the company a year ago during the acquisition of Earn.com where he was co-founder and CEO. The former CTO announced his departure through his Twitter account. Although he has declined to go into details, he said he plans to take time off to get fit, before launching his next product. In his announcement, he recalled his journey at Coinbase as enjoyable. The company CEO Brian Armstrong paid a tribute to Srinivasan’s incredible contributions to the company.
During his tenure, Srinivasan saw the company’s expansion efforts, including the launch of USDC stablecoin. Furthermore, the company launched new services for institutional investors and today, its services also include over-the-counter trading and staking. The company also has its own VC arm to deal with promising startups, where a firm has continued to carry acquisitions. Coinbase is an evolution of Earn.com, a product that is aiming to pay consumers small amounts of cryptocurrencies, in exchange for learning asset’s underlying technology and utility. According to the company’s spokesperson, this will remain the firm’s core strategy. “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,” said spokesperson.
Balaji Srinivasan is an engineer and serial entrepreneur who has previously co-founded a number of startups namely Earn.com which was later occupied by Coinbase for US$ 120 million in April 2018. Earn.com was integrated into the exchange as Coinbase Earn, which then partnered with a number of different projects such as Stellar Lumens, Zcash, 0x, Basic Attention Token. Srinivasan was also a general partner at software venture capital firm Andreessen Horowitz also known as a16z.
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