Over the past few months Coinbase has lost a number of senior executives, including its Chief Operating Officer, Chief Technology Officer, Head of International, and Director of Institutional Sales. Recent reports have indicated that these departures may be related to the company's internal struggle of whether to become more like a traditional financial services firm or to "lean into the industry’s wild side."
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Coinbase's internal conflicts have led to recent executive departures
At times, the conflict between the two men, which hasn’t previously been reported, became so intense that their interactions devolved into shouting matches, according to two people who observed the episodes and others who were told about them. Mr. Hirji, a former executive from stock brokerage TD Ameritrade who was accustomed to working in large organizations, lobbied for Coinbase to prioritize attracting financial institutions to its services. Meanwhile, Mr. Srinivasan, an experienced Silicon Valley startup founder, wanted Coinbase to cater more to individuals by aggressively expanding the types of digital currencies in its exchange, including some that occupy a regulatory gray area.
