Vishal Gupta ends his two-and-a-half-year stint at Coinbase as the proceeds to undertake a new crypto project, said sources.
There’s yet another major exit from a senior position at crypto exchange Coinbase. On Monday, April 10, Coinbase’s senior director of product management – Vishal Gupta – announced an exit from the company.
Sources familiar with the matter said that the decision comes as Gupta is planning to work on a new crypto project. Although the details regarding the new project are unclear, Gupta plans to continue working in the crypto domain.
As per Vishal Gupta’s LinkedIn profile, the departing director worked for over two and a half years at Coinbase. He was responsible for the launch of new products and initiatives at Coinbase. Gupta was reporting to Greg Tusar, who was overseeing Coinbase’s institutional products.
Before his stint at Coinbase, Gupta served at Circle Internet Financial Ltd. and was also in charge of launching the USDC stablecoin. Besides, he’s also a former Goldman Sachs veteran where he worked as vice president and head of US-listed options.
However, Mr. Gupta is not among the first top executives to leave the crypto exchange Coinbase. Earlier this year, Coinbase’s chief product officer Surojit Chatterjee also announced an exit.
Coinbase Senior Executives Leave amid Regulatory Scrutiny
The developments at crypto exchange Coinbase happen just at the time when it has been facing rising regulatory scrutiny from US watchdogs who have amped up their policing efforts in the crypto space.
Last month, Coinbase received a Well Notice from the US Securities and Exchange Commission (SEC) hinting at future enforcement actions against the crypto exchange over the allegation of listing unregistered securities. Besides, the SEC has also questioned Coinbase for offering staking services through Coinbase Earn and Coinbase Wallet.
However, Coinbase has claimed no wrongdoing adding that all its services are absolutely legal. Coinbase also stated that it welcomes “a legal process to provide the clarity we have been advocating for.”
However, Chatterjee’s decision to leave the company came amid concerns about a family illness and bereavement. In his departing note shared on LinkedIn, he wrote:
“It has been a tough year for me personally – my father was diagnosed with Alzheimer’s disease, and my mother passed away unexpectedly. If I’m honest with myself, I don’t think I’ve allowed myself time to grieve either yet.”
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