The announcement was made via Twitter on the 3rd of May by Balaji Srinvasan. In his tweet, the CTO thanked his friend and colleague Brian Armstrong whilst highlighting some of the milestones met during his tenor.
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.
Srinivasan joined Coinbase when they purchased Earn.com for a reported $100M back in April 2018. Since then, Coinbase has successfully integrated the platform which allows users to earn crypto by completing simple tasks and by learning about a digital assets underlaying technology.
In his tweet, Balaji noted that
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!
Srinivasan’s appointment at Coinbase was one of many prestigious positions which include CEO at Earn.com, General Partner at Andreesen Horowitz and cofounder & CTO of Counsyl. In a comment from a Coinbase spokesperson Balaji was praised for his contributions over the past year which have had a major impact on the trajectory of the company.
This latest news follows a series of recent developments for the digital currency exchange giant which sees them positioned as one of United States’ more prominent crypto entities. With the recent departure, Max Branzburg, a former product manager with Google has been promoted to head of consumer. His role will include integrating ‘Earn’ into a consumer app.