Coinbase Hits 500 Employee Mark And Adds Shrimpy As Portfolio Rebalancing Tool
San Francisco based digital currency exchange, Coinbase has announced that it has employed more than 500 individuals while Shrimpy adds portfolio ‘Rebranding’ support for the Coinbase Pro platform.
Coinbase hits the 500 Employee mark
Just after declaring Coinbase as a “cryptocurrency company” rather than a tech/finance firm, Natalie McGrath, head of people and operations at Coinbase revealed that the startup has hired more than 500 employees.
A tweet from McGrath on August 24 stated the company has hired more than 500 employees, indicating the fast growth of the self-stylized “Google of Cryptocurrencies”. The tweet reads:
“Coinbase hit 500 employees this week! Holy moly. So proud, thankful and appreciative to work with this amazing team. If you’re not here – join us! Coinbase.com/careers”
The growth of Coinbase is a prove to world governments that the blockchain ecosystem could create significant employment and industry for the broader economy.
Segmentation of Coinbase
On the same day, Brian Armstrong CEO of Coinbase shared an email with employees about the segmentation of the cryptocurrency company in the startup world.
Armstrong stated that the company prides itself in product creation. According to his post, Coinbase has a dedicated engineering team and features a knowledgeable legal and compliance team.
“We’re not satisfied with the LIMITATIONS of either technology or finance industries. We don’t want to move fast and break things — that doesn’t work when you’re handling people’s money. We also don’t want to become so conservative that more risk-tolerant organizations outrun us.”
According to Armstrong, the aforementioned fixtures make Coinbase a technology company “driving a ton of innovation and growth in the world today.”
Armstrong further stated that Coinbase fits better into the newly-developed “crypto” category instead of a “Fintech” organization.
Coinbase gets a portfolio for ‘Rebalancing’
Coinbase, which provides an exchange for cryptocurrency such as Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, has gotten support for rebalancing.
According to an official blog post, portfolio rebalancing application Shrimpy has added support for the newly released Coinbase Pro.
According to the announcement, the support will remain specific to Coinbase Pro and will aim to “rebalance” the portfolios of both retail and institutional investors once a year.
Rebalancing involves tracking an asset’s performance over a particular period and increasing one’s investment, divesting and distributing profits to other portfolio holds.
The Shrimpy rebalancing tool helps investors to grow their holdings by choosing the best time to buy or sell holdings.
This strategy is more efficient and has proven to triumph over merely holding one’s investment over an extended period.
With the support from Shrimpy, customers using the Coinbase Pro now rebalance their portfolios across four other crypto exchanges and more than 100 different cryptocurrencies.
Most investors typically turn to Coinbase for their first cryptocurrency investments due to the platform’s ease-of-access and relatively developed legality, whether this tool will be added to the regular Coinbase exchange in future remains unknown.