a16z Crypto Departs With The Coinbase Product Head

Key Points:

• a16z announced that Surojit Chatterjee, who formerly served as the chief product officer for cryptocurrency exchange Coinbase (COIN), has joined the company as an executive in residence for its crypto unit.
• The first era of the modern internet (roughly 1990-2005) was about open protocols that were decentralized and community-governed.
• Coinbase announced earlier this year that it intended to cut its workforce by around 20% as a result of the effects of the crypto winter.

Venture capital firm Andreessen Horowitz (a16z) announced that Surojit Chatterjee, who formerly served as the chief product officer for cryptocurrency exchange Coinbase (COIN), has joined the company as an executive in residence for its crypto unit.

a16z crypto is a venture capital fund that invests in crypto and web3 startups. a16z recently announced a $4.5 billion fourth fund, bringing our total funds raised to more than $7.6 billion.

The first era of the modern internet (roughly 1990-2005) was about open protocols that were decentralized and community-governed. Most of the value accrued to the edges of the network: users and builders.

The second era of the internet (roughly 2005-2020) favored siloed, centralized services. Most of the value accrued to a handful of large tech companies. We are now beginning the third era of the internet — what many call web3 — which combines the decentralized, community-governed ethos of the first era with the advanced, modern functionality of the second era. This will unlock a new wave of creativity and entrepreneurship.

“Super excited to join @a16zcrypto as Executive in Residence (EIR) and learn from some of the smartest brains in the business. Looking forward to helping out founders and builders scale their businesses. Let’s build…,” Chatterjee tweeted.

Chatterjee started working at Coinbase in early 2020

According to his LinkedIn profile, Chatterjee started working at Coinbase in early 2020, and he gave no explanation for why he left. Prior to this, he worked with Google for more than ten years on projects related to payments, advertising technology, and business, including the creation of Google Shopping.

Coinbase announced earlier this year that it intended to cut its workforce by around 20% as a result of the effects of the crypto winter.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News