HomeBusinessWhat’s behind the Coinbase executive exodus?

What’s behind the Coinbase executive exodus?

Another Coinbase executive has departed from the team, according to recent developments. Vaishali Mehta recently left her senior compliance managing position at the company, taking a position at TrustToken, a young stablecoin operation, joining a decently-sized list of senior employees leaving the company in 2018.

According to her LinkedIn profile, Mehta was a senior compliance manager for Coinbase from November 2017 to November 2018. In December 2018, Mehta started as head of compliance for TrustToken, a stablecoin operating under the token label TrueUSD (TUSD). TrueUSD is one of many new stablecoin projects to flood the news recently.

Prior to Coinbase, Mehta worked for Deutsche Bank in New York, heading up its Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) risk and onboarding divisions.

Other notable Coinbase executive departures

Over the past several months, Coinbase strangely has seen multiple top staff members leave.

Last month, CoinDesk reported on C-suite executive Jeremy Henrickson’s departure from Coinbase. December also saw Rees Atlas leave Coinbase, noted in another CoinDesk report. Atlas was a risk operations manager.

In November, Coinbase lost its policy officer Michael Lempres, as reported by Bloomberg. Lempres worked over a year at the company as legal chief before accepting the position of policy officer at Coinbase. He then left the company altogether shortly after.

In October, Coinbase said farewell to its institutional platform head, Adam White, according to a Reuters report. White was a long-standing Coinbase executive. CoinDesk additionally reported on Hunter Merghart, The company’s head of trading who left the operation in October, after holding the position for only six months.

Unclear reasons for the exodus

There does not appear to be any known underlying reason for the Coinbase executive exodus. The crypto space is young, and many companies have not existed for long compared to many traditional financial entities. That said, company growth and maturity can include its ups and downs, as well as staff adjustments and departures.

Coinbase is one of the most influential entities in the crypto space at the moment, having a significant impact on newcomers in the space. A Bloomberg report showed Coinbase signed up a staggering 50,000 new users every day during the 2017 bull market.

Coinbase has also been one of the most intentional crypto entities in dealing with regulatory compliance. Back in October, Crypto Insider noted that Coinbase received a custody service approval from the hard-nosed regulatory state of New York. On its website, Furthermore, Coinbase clearly stated compliance with “all applicable laws and regulations in each jurisdiction in which it operates.”

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Written by

BJ is a full time writer, editor, and trader in the cryptocurrency space. He has written many professional articles for numerous ICOs, news sites, and other interested parties in the crypto space. He is also a trader, staying up to date with the crypto markets constantly, and dabbling in traditional financial market trading occasionally.

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