Coinbase Team Expanding To Cope With Unforeseen Mass Adoption

Coinbase, the cryptocurrency exchange which has been in the news lately after experiencing high user growth. The demand for Bitcoin and other cryptocurrencies has increased much faster it seems than anyone, including the Coinbase team had anticipated. After another record breaking rally which saw the Bitcoin price exceed $10,000, reaching as high as $11,500, Coinbase’s services were suspended and users were unable to buy and sell.

The team announced on Twitter that this was due to an unforeseen amount of users, with the total number being 8 times as high as an earlier spike experienced in June 2017.

The Coinbase team has now announced they’re looking to expand and take on new talented members in order to grow and develop further!

Coinbase allow users to buy, sell and store 3 of the most popular cryptocurrencies out there, Bitcoin, Ethereum and Litecoin.

The leadership team over at Coinbase is going to be receiving a boost as they bring on a financial field veteran from TD Ameritrade. This new hire will help them to learn more about inner workings of brokerage firms and will help them to utilize this knowledge in their own operations. The new addition will be the new president and chief operating officer at Coinbase.

It’s an exciting time for both parties, as coinbase is able to now gain further intelligence and credibility as well further tightening up in their operations in the short term and long term.

Asif Hiriji, the startup said in a post on medium, will be taking on this role and they are excited to bring him on as he has also served with A16hz or  Andreessen Horowitz, the venture capital firm who has backed players like Twitter, Coinbase and other big consumer companies. The VC firm provided coinbase with $25mm in capital in a prior round to grow their operations. The firm hasn’t been wrong on bets it has made in the past and it looks like, the investment in Coinbase is paying off greatly, especially with its recent surge in users!

The company stated:

“Today we’re thrilled to announce that Asiff Hirji is joining Coinbase as our President & Chief Operating Officer. Asiff joins us from one of our venture capital partners, Andreessen Horowitz, where he focused on accelerating growth at a number of portfolio companies. We are incredibly excited to have him join Coinbase full time to help us on our mission towards creating an open financial system.”

They made certain to stress that his knowledge of traditional financial services, in addition to his deep technical expertise is what provides him with the edge and the competence to bring to Coinbase what’s needed for the next leg in their journey to being a much bigger and stronger company. He will have the knowledge and the know how to lead them and guide them in what needs to be done from an operations standpoint and products standpoint. He will be able to see what products and markets can be deployed and entered, growing the company and meeting demands in the market in an efficient and effective manner.

The new hire brings with him vast experience across various firms in the finance world, ranging from places like TD Ameritrade to TPG Capital, Bain Capital, HP, and more.

Hirji noted several key points, he’s interested and excited to be part of the growing company and is expecting to grow with the company and maximize its full potential. He also sought to emphasize the increase in activity at GDAX, (part of Coinbase), going on to say how the space is growing heavily with bigger players in the financial industry taking notice and seeking to jump in.

He stated:

“This is no longer a fringe thing just for fan boys, the Wall Street crowd and traditional old guard in the financial world are jumping in as well.”

By | 2017-12-02T19:25:40+00:00 December 2nd, 2017|News|0 Comments

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