Coinbase President Exits, VP Emilie Choi To Replace Him
Coinbase president, who is also the firm’s chief operating officer (COO) Asiff Hirji, has been confirmed to be on his way out.
An announcement revealing Hirji’s exit from the leading U.S.-based cryptocurrency exchange was made on May 31.
Asiff Hirji joined Coinbase in December 2017, teaming up with the crypto unicorn from venture capital firm Andreessen Horowitz. He also worked with TD Ameritrade, serving as the firm’s president as well as COO.
Brian Armstrong, the Coinbase co-founder, and current chief executive acknowledged Asif’s departure and praised him for his work.
The CEO wrote in a blog statement that the firm was “incredibly grateful,” thanking the outgoing president and COO for his contributions to Coinbase’s growth in the 18 months he has been there.
He added that:
“His experience and mentorship helped guide Coinbase through an important chapter in its history.”
Armstrong noted that Hirji joined the exchange “at a critical time.” he said that from around that time, both Coinbase and the wider crypto space experienced rapid growth and that Hirji brought “his extensive experience to bear” at a time when it was really needed.
Bloomberg’s Julie VerHage first reported about Hirji’s exit from the U.S.-based crypto company on Friday.
Following Hirji’s departure, Coinbase has appointed the company’s VP of Business, Data, and International, Emilie Choi, as the new chief operating officer.
Choi was in charge of the crypto exchange’s latest funding round closed in October 2018. Coinbase raised $300 million in the Series E round with the company’s market valuation now at $8 billion.
Meanwhile, the exit of Coinbase’s COO follows other key C-suite departures at the company in recent months. Other executives are also reportedly in the process of exiting.
In May, the exchange’s Chief technology officer (CTO) Balaji Srinivasan exited. Balaji left only a month or so after Dan Romero, an executive who had been with the firm for five years also left. Romero had been the company’s VP of international business before exiting in April.
Industry news site The Information also reported recently that the VP of operations and technology Tina Bhatnagar would also be leaving Coinbase.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.