1/2 Really enjoyed my time at Coinbase working with my friend @brian_armstrong. The Earn integration was successful and we’ve closed ~$200M in deals for the new Coinbase Earn. Was also my privilege to help with shipping new assets, launching USDC, & getting staking/voting going.
— Balaji S. Srinivasan (@balajis) May 4, 2019
In a recent tweet, Srinivasan stated that he is leaving due to personal reasons, saying, “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!”
“We are very grateful to Balaji for all of his contributions to Coinbase,” a Coinbase spokesperson added in a statement. “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.”
According to The Block’s Frank Chaparro, inside sources have indicated that Srinivasan wasn’t given enough freedom in his role leading the development of Coinbase’s consumer products. A difference of opinion about the future product roadmap also existed.
Srinivasan joined Coinbase after the company acquired Earn.com, a crypto startup company that enables users to monetize their email messaging with digital currency, for an undisclosed amount rumored to be north of $100 million.
Given Earn.com’s relatively small user base, many believed at the time that the acquisition was largely designed to bring Srinivasan on as Coinbase’s CTO. The acquisition did lead to the creation of Coinbase Earn.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.