Coinbase CTO Balaji Srinivasan announces departure from the company after one year

Coinbase failed to retain some of its executives lately resulting in the departure of at least 12 key members since October 2018. After the departure of Christine Sandler, Adam White and Dan Romero, the latest member to join the exodus is Balaji S. Srinivasan, the CTO of the San Francisco-based cryptocurrency exchange just one year after he joined the firm.

In a recent tweet announcing his departure from the crypto-firm, Srinivasan posted that he “really enjoyed” his time at Coinbase. Srinivasan founded which was later acquired by Coinbase, marking his foray into the exchange platform on April 2018. He also tweeted about Earn integration on Coinbase’s platform and revealed that approximately $200 million deals have been closed for Coinbase Earn.

Srinivasan further revealed that he will be taking some “time off” and tweeted,

“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!”

The Co-Founder and CEO of Coinbase Brian Armstrong also tweeted in response to Srinivasan’s original thread thanking him for his contributions. During the former CTO’s tenure, Coinbase scaled up its native stablecoin, USD Coin [USDC] and diversified its services, including staking and over-the-counter [OTC] trading.

Coinbase has not yet divulged any details on whether Srinivasan will be back onboard or if he will be working on a new product for the exchange. Additionally, it is also not known as to who will fill in for the role of the CTO of the company.

Following the announcement, Brendon Blumer, the Co-founder, and CEO of posted,

“Has been great to see your impact on such an important representative for our whole industry”

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