Coinbase has grown to become one of the leading cryptocurrency exchanges in the world.it has emerged however that its vice president will be leaving his position in the coming two weeks. Tim Wagner joined the leading exchange in June 2018 and served as the vice president of engineering. He was a former Amazon Web Services executive before joining Coinbase. To present, no one from the team has stepped up to fill the void of his vacancy as vice president of engineering. According to recent reports, two more executive engineers are also exiting the Coinbase core team.
Wagner served for six years at the amazon web services. His move to Coinbase in 2018 was applauded and favorable for the exchange as he had been instrumental in engineering amazon’s web services Lambda that has been popular for its high-end security. Before working at Amazon, Wagner also worked with Microsoft.
His appointment coincidentally happened at the same time as that of Balaji Srinivasan whose appointment saw him become the chief technology officer. During this time, Coinbase is remembered to have acquired Earn.com.
It is quite stunning that over the period of the last two months, Coinbase, the San Francisco situated organization has lost some key players in its executive team with Wagner being the last to get off the bandwagon. Brady Dale and Zach Seward let the news media in on Wagner’s departure.it should be noted that earlier this year, numerous reports arose revealing a brewing tension between the first chief technology officer Srinivasan and COO Asiff Hirji. Hirji ended up exiting Coinbase, a move that left executive ranks vacant.
Wagner has resigned from the position of vice president of engineering. His primal role and responsibility in the rank were to develop and build more infrastructure to help expand and better the platform alongside the addition of new assets. His resignation comes within a mere year of his tenure in the position as he joined Coinbase in June of 2018.within this year of his being head of engineering, Coinbase added Maker, Augur’s REP and EOS to the list of cryptocurrencies it supports.
Currently, Coinbase boasts a workforce and employee list of about 700 people scattered across the globe. Apart from Wagner and the two top engineers exiting the platform, three more employees are set to depart from Coinbase. Even though these are not the core leaders stepping out of the platform, their departure is set to have massive ramifications for Coinbase.
Reports from coindesk have opined that Coinbase’s senior director of engineering, Namrata Ganatra will be joining the Lambda school as chief technology officer following his departure from Coinbase. After spending around four years as Coinbase veteran and as of now leading engineering Varun Srinivasan is also set to step down. A few months ago, Connie Yang, the director of design Coinbase, also stepped down. He was a former Facebook executive before taking the position at Coinbase.
April of 2019 saw Coinbase institutional business lose its long-term employee Dan Romero. Romero was heading the team as a senior executive. His tenure with the platform had lasted about five years and the vacancy created was filled by Emilie Choi and Jim Migdal. Emilie started handling OTC and international responsibilities while Jim took over the leadership of the Institutional team of Coinbase. A former Coinbase employee opines that the shifts, movements, and departures in Coinbase will have no severe impacts on the platform’s overall turnover. He says this is the case as Coinbase is primarily driven by the growth of the crypto market and industry. We all cannot help but question as to what is going on at Coinbase. The departures of top executives could be an indication of something going on, or perhaps it is just a speculation.