Coinbase Product Lead Vishal Gupta Leaves To Set New Crypto Project

Key Points:

• Vishal Gupta, who formerly worked at Goldman Sachs, is leaving his position at Coinbase.
• Gupta spent about two and a half years at the exchange.
• The resignation comes at a difficult moment for both crypto and the firm.

According to Bloomberg, Vishal Gupta, a former senior director of product management at Coinbase who previously worked at Goldman Sachs, is leaving the company to embark on a new crypto project.

According to his LinkedIn profile, Gupta worked at the exchange for more than two and a half years. He reported to Greg Tusar, Coinbase’s institutional product manager.

The new project’s emphasis is unknown, but Gupta will stay in the crypto area, according to a source who requested not to be identified since the topic is private.

Gupta spent eight years at Goldman Sachs, a prominent conventional banking powerhouse, before making the switch to cryptocurrency. Prior to Coinbase, he worked at Circle Internet Finance, where he was in charge of establishing the company’s flagship Dollar Coin, the USDC stablecoin.

The resignation comes at a difficult moment for both cryptocurrency and Coinbase. The market is suffering from a wave of bankruptcies and bank failures, and the company has found itself in the sights of the Securities and Exchange Commission.

The exchange recently reported that it got a Wells notice from the SEC indicating that the SEC intends to launch an enforcement action against the business in connection with an unspecified section of its listed digital assets, as well as the staking service Earn and Coinbase Wallet.

Gupta is not the company’s first high-profile executive to leave. Surojit Chatterjee, Coinbase’s Chief Product Officer, departed the exchange earlier this year after announcing his resignation in 2022.

Coinbase CEO Brian Armstrong announced the addition of the Lightning Network to their platform, which provides quicker transaction speeds and lower costs. This connection will help Bitcoin gain ground on competitors Kraken, Bitfinex, BitStamp, and OKX.

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Harold

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