Business & Finance

$8 Billion Crypto Exchange’s CTO Resigned Over Twitter

Coinbase CTO and the co-founder of Earn.com, Balaji S. Srinivasan is leaving Coinbase, as he announced the news in a series of tweets posted on his twitter.

Srinivasan founded Earn.com in 2017. Earn.com was a US-based startup that used blockchain for its paid email services and was dubbed as the blockchain social media; however in 2018, Coinbase acquired the company for a whopping $120 million and Srinivasan was made the CTO after the acquisition.

A PhD from Stanford, Srinivasan has been involved with cryptocurrency-based startups since 2014 when he cofounded Coin Center a platform that focuses on policy issues facing cryptocurrency. Srinivasan is also a lecturer at Stanford teaching courses related to blockchain. Talking about Coinbase in his tweets he said:

Srinivasan along with a PhD in Electrical Engineering also holds a masters in Chemical Engineering; it was long rumored that Srinivasan was a misfit in the company. The PR department from Coinbase sent out the following statement:

We are very grateful to Balaji for all of his contributions to Coinbase,His efforts over the past year have had a significant impact on the trajectory of the company. He’s on to his next challenge, and we wish him well.

Coinbase is also one of the few crypto companies that have achieved the Unicorn status and in October Coinbase closed a $300 million funding round which valued the company at more than $8 billion dollars.  Srinivasan’s exit is not the only recent exit from the company, Adam White the General Manager and Vice President of the company was the first high profile person to leave the company. The Chief Product Officer, Jeremy Henrickson also left the company in December last year. The Head of Trading at Coinbase Hunter Merghart also left the company in October after just six months at the job. These high-profile departures indicated that there were some internal conflicts within the company.

After the $300 million funding round the company also expanded its numbers, and now the company has more than 800 employees working at its office. A Coinbase employee said following about the company’s alumni:

We’re incredibly proud of our strong alumni network and encourage employees to start their crypto career at Coinbase, as many of them go on to continue making meaningful contributions to the broader crypto ecosystem


Shahzaib Zafar

Electrical Engineer, Crypto enthusiast, a tech nerd and a developer with a keen interest in blockchain, writes daily articles about bitcoin and cryptocurrencies for blockpublisher.

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