Coinbase product chief resigns

On Thursday, November 3, Coinbase’s chief product officer Surojit Chatterjee announced his resignation. He had spent almost three years at the company.

After nearly 3 incredible years as CPO @coinbase, I’m taking a breather & stepping down. Thanks to the entire CB team — I’m looking forward to continuing to serve @brian_armstrong and the exec team as an advisor. I’ve shared some reflections here: https://t.co/y5qM9VaJ36

— surchatt.eth (@surojit) November 2, 2022

On his LinkedIn page he noted that “it’s time to take a breather”. He also spoke of a difficult family situation.

“After the incredible success that began in February 2020, I have decided to leave my current role as Coinbase’s chief product officer,” the statement said.

Chatterjee added that he will continue to work with the exchange as an advisor to CEO Brian Armstrong.

In the documents for the U.S. Securities and Exchange Commission dated October 28, it states that in connection with the departure of the top executive, Coinbase’s product, engineering and design teams “will be reorganized within the product-group structure”.

Earlier, news emerged of several major departures in crypto-related firms. In October, Alexander Heptner left as BitMEX platform CEO, and Brett Harrison left from the role of president of FTX US.

In September, Alex Mashinsky stepped down as CEO of the Celsius Network, the crypto-lending platform.

In the summer, they submitted their resignations as CEO of Compass Mining Whit Gibbs and CFO Jodi Fisher.

In June Coinbase announced a staff cut of about 18% amid the crypto winter.

According to the third-quarter report, the net loss of the U.S.-based bitcoin exchange amounted to $545 million, compared with $1.1 billion in the previous period. Revenue from transactional fees fell by 44%.

Follow ForkLog’s bitcoin news on our Telegram — cryptocurrency news, prices and analysis.