Product Manager Coinbase Surojit Chatterjee has resigned, causing the entire product department to restructure staff.
According to the profile submitted SEC on October 28, the exchange cryptocurrency America's largest Coinbase said it would restructure its product development department, leading to the departure of Chief Product Officer Surojit Chatterjee.
Coinbase's Product Division, which is responsible for building products for both institutional and retail clients, will be split into four smaller units and each with their own directors, all of whom will report directly to the CEO Brian Armstrong.
Coinbase hopes that under the new structure, small units will work more flexibly and be more proactive in making decisions. Those four units will be Consumer Products (including NFT and wallets), Institutional products (custodial and brokerage), Development programming products and Infrastructure products.
Meanwhile, Product Manager Surojit Chatterjee will step down, but will remain as an advisor to the exchange until February 2023. Follow BloombergChatterjee, before joining Coinbase, had 3 years as a leader for Google's shopping segment. This person is said to benefit a lot from Coinbase's listing on the stock exchange, with shares worth up to 646 million USD as of April 2021.
One of the reasons why Mr. Surojit Chatterjee "lost his seat" is because of Coinbase NFT, Coinbase's flagship product, took a long time to develop but was unsuccessfully launched, despite receiving much attention from the public.
Coinbase this week will release its financial results for the third quarter of 2022, with many unfavorable forecasts because the market in the last three months has not had much movement. As was T-REX Reportedly, spot trading volume on exchanges in the third quarter fell to the lowest level since December 2020.
Field cryptocurrency The second half of 2022 also witnessed many staff reductions as well as "parting" from senior managers for various reasons, including CFOs and CFOs. OpenSea, CEO Algorand, CEO MicroStrategy, CEO Genesis Trading, CEO Alameda Research, CEO Kraken, CEO Celsius, Chairperson FTX US, CEO Parity Technologies (Polkadot) and the CEO of BitMEX.