Coinbase executive Adam White has been reported to be leaving the firm.
Joining the cryptosphere in 2013, Adam White has been working for the startup as an institutional investment executive for the past 5 years. White joined Coinbase in its infancy when Coinbase’s HQ was a single bedroom and cryptocurrencies like Bitcoin were fresh off the press, so to speak. Keeping this in mind, it is clear that White helped Coinbase propel itself to the position it is now — one of the most well-known startups in the entire world.
For those who are unaware, White first joined the San Francisco-based firm as a Vice President of Business Development and Product Management. Prior to his time at the crypto-focused startup, he worked with the U.S. Air Force as a Flight Test Engineer and also worked at Bain & Company as a consultant. He later took on the role of Vice President and General Manager of Coinbase’s institutional branch.
Adam White has declined to comment on this matter and hence, the reason for his exit is still unclear.
Speaking on White, CEO Brian Armstrong said the following — “Over the past five years, Adam helped us build our exchange business into the largest U.S.-based crypto-trading venue, and was integral to growing Coinbase’s global presence and scaling our culture to multiple offices.”
Coinbase on Adam White’s Resignation
White might have left the firm at an awkward time, with the startup being well on it’s way to securing promising deals with institutional investors and hedge funds in America. With White being the Vice President of Coinbase’s Institutional arm, it would seem likely that his departure would hinder Coinbase’s prowess at securing clients for its institutional-focused products. However, a spokesperson assured the team would face no issues and continue to prosper under White’s vision for the startup and its institutional involvement.
“While we’re extremely sad to see him go, we’re also confident in that group’s ability to keep executing on the vision that he laid out to be the most trusted venue for institutional investors to trade cryptocurrencies,” stated the spokesman.
Instinet ex-CEO Jonathan Kellner will be replacing Adam White’s position, covering most of White’s former domain as Coinbase Institutional’s new managing director.
Coinbase Introduces New Board Member
We're proud to welcome Chris Dodds of the @CharlesSchwab Board of Directors to the @coinbase Board. His deep knowledge of financial services will be an asset as we head into this next chapter for the company and the cryptocurrency industry as a whole. https://t.co/5Kzv4cUeam
— Coinbase (@coinbase) October 2, 2018
Shortly before the departure of White, Coinbase announced the addition of a Board Member, Chris Dodds. The startup explained that they are pleased to have him in the firm, saying — “His deep knowledge of financial services will be an asset as we head into this next chapter for the company and the cryptocurrency industry as a whole.”
Coinbase has been a sturdy platform and notably one of the very best exchanges. Coinbase was recently reported to have more users than the entire supply of Bitcoin. This surely highlights the cryptocurrency platform and Coinbase’s growth as a whole.