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Coinbase loses its first CTO

By Christian Wylonis
Coinbase
Image credit: Source: Coinbase

Balaji Srinivasan has announced his departure from Coinbase after just one year as CTO. Srinivasan joined the company through an acquisition of Earn.com where he was the CEO & co-Founder. Inside sources have indicated that Srinivasan wasn’t given enough freedom in his role leading the development of Coinbase’s consumer products. His future plans are not yet known.

In the post on Twitter, Srinivasan said: "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. 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!"

Brian Armstrong, CEO & co-Founder of Coinbase, reciprocated the sentiment and said: "Thank you @balajis for your incredible contributions to @coinbase! You will be missed and I can't wait to see what your next chapter has in store :)"

Coinbase has undergone significant management changes in the last couple years.