Senior Executive Resigned at This Giant Cryptocurrency Exchange!

Chief product officer (CPO) of Coinbase, cryptocurrency He resigned from his position after the stock exchange restructured its product team.

Surojit Chatterjee Resigns As Cryptocurrency Exchange Coinbase Restructures Its Team

According to a filing with the Securities and Exchange Commission (SEC), Surojit Chatterjee stepped down on October 28 as part of a restructuring that will split Coinbase’s product lineup into four divisions.

Responsible for the creation of corporate and retail products, the product team will be restructured into four divisions, with four directors reporting directly to CEO Brian Armstrong who will be more closely involved with the products.

More focused groups are expected to enable the firm to operate faster and make faster decisions, but it is unclear whether they will yield significant cost savings.

Chatterjee’s departure marks the latest in a series of departures in the cryptocurrency industry, including those from Celsius Network and Voyager Digital, which continue to pick up the pieces after declaring bankruptcy in July.

crypto and bitcoin The CEO and founder of exchange Kraken, as well as the CEOs of MicroStrategy, Genesis, and Alameda Research, have left their posts as crypto prices have plummeted in recent months.

Company spokesperson Elliott Suthers said:

“We empower leaders within the company to make better, faster decisions and innovate more agile.

These leaders will be closer to their products and our customers, which is critical to creating the kind of user experiences that will drive the next evolution of the crypto economy.”

The news comes a day before the company’s third-quarter earnings and in the midst of a brutal era for crypto exchanges that rely heavily on transaction fee revenue to make a profit.

In October, crypto exchange volumes fell to the lowest levels since December 2020, despite the slight rise in crypto prices.

*Not investment advice.