Giant Bitcoin Exchange Coinbase to Altcoin Transfer

Coinbase Manager Resigns from Cryptocurrency Exchange for Stablecoin Company

Coinbase employee resigned from Coinbase, considered the unicorn of the cryptocurrency industry, for a small startup.

2017 November and 2018 Vaishali Mehta, who served as senior legal compliance manager at Coinbase from November to November, joined TrustToken as chief compliance officer last month.

Mehta told CoinDesk through a spokesperson, “Cryptocurrency is really exciting. It’s a place and I’m so lucky to be a part of this craziness.”. “I am genuinely interested in TrustToken’s vision to foster a new financial future that is resistant to fraud, failure and greed.”

TrustToken, the company behind TrueUSDstablecoin, confirms the recruitment of Mehta. CoinBase did not respond to CoinDesk’s request for comment at the time of publication.

Former director of risk division of BSA/AML (Bank Secrecy Act / Anti-Money Laundering) at Deutsche Bank and Deutsche Bank Mehta, who is also in the recruitment department at Bank, is just one of several senior and long-time employees to quit Coinbase in the past few months.

To Quit Coinbase

In October, Coinbase’ Adam White, who is the fifth person in the top position of the company, left Coinbase to serve as the Chief Operating Officer of Bakkt, the new digital asset trading platform established by the Intercontinental Exchange, the parent company of the New York Stock Exchange.. Additionally, this month Coinbase’s Chief Commercial Officer, Hunter Merghart, resigned just six months after he took the job. He left his position at Coinbase for. Last month, Rees Atlas, Head of Risk Operations at Coinbase, who joined the company in 2013, transitioned to the marketing communications startup Twilio, shortly after Chief Product Officer Jeremy Henrickson stepped down.

New Boss

Last year was a very busy year for TrustToken, one of Mehta’s new bosses. After launching the dollar-backed stablecoin TrueUSD in March, the company raised $20 million in token sales in June to investors including  Andreessen Horowitz (a16z), BlockTower Capital, Danhua Capital, and others.

In December, TrustToken reported that it successfully passed the smart contract security audit by Certik, SlowMist, and Zeppelin.. The company stated that it stores dollar reserves in multiple third-party loan companies that are regulated by multiple U.S. States. One of the few cryptocurrencies designed to maintain parity with. Stablecoins allow cryptocurrency traders to quickly move money between exchanges without having to rely on the banking system.. Tether suffered a confidence crisis in the fall, amid problems with dollar support, but was later traded as a currency against the US dollar.

As of Thursday night, the market cap of TrueUSD has surpassed $200 million.

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