After securing $300 million worth of funding in 2018, crypto startup Coinbase has somehow been put between a rock and a hard place. Executives, and key ones at that, have begun to leave the firm, citing a multitude of reasons. Most recently, Asiff Hirji, the TD Ameritrade executive-turned-the company’s chief operating officer, has revealed that he will be departing.
Despite joining Coinbase in December 2017, Hirji has been instrumental in Coinbase’s history, spearheading last year’s historic funding round that valued the company at $8 billion and its push into the institutional markets. In fact, in an interview with CNBC, the former executive suggested that 2019 was going to be a great year for cryptocurrencies as a result of institutions, looking to the fact that his team managed to see massive inflows into its custody business. On the matter of his importance to the firm, chief executive Brian Armstrong explained in a statement reported on by Bloomberg: