Even though Coinbase continues to be one of the most important players in the cryptocurrency industry, the company is dealing with an exodus of executives at key positions. The latest executive to leave is Asiff Hirji, who served as the company president and chief operating officer. Hirji, a former executive at TD Ameritrade, joined Coinbase in December of 2017.
Hirji’s COO role will be taken over by Emilie Choi, who was one of his first hires. An unnamed source told Bloomberg that Choi had an important role in Coinbase’s latest funding round.
Coinbase founder and CEO Brian Armstrong commented on Hirji’s departure:
“His experience and mentorship helped guide Coinbase through an important chapter in its history. He joined at a critical time when both the company and crypto space were going through rapid growth, bringing his extensive experience to bear when it was most necessary.”
According to The Block, Coinbase has shifted away from its strategy of trying to attract more institutional clients to trade on its markets. However, Brian Armstrong says that other aspects of the firm, such as its custody services and over the counter trading operation, have seen substantial growth.
Other executives that have left Coinbase within the last year include former CTO Balaji Srinivasan and former head of institutions Dan Romero. There is also Adam White, who left to serve as COO at Bakkt and Christine Sandler, who left for Fidelity Digital Assets.