Coinbase Data Science And Risk Director Leaves In Pursuit Of Solo Success
While many employees of crypto platforms and related companies are being forced to leave with substantial layoffs, there are other workers that are taking control of their future by leaving all on their own. At Coinbase, the director of data science and risk has decided to take their own path.
Soups Ranjan, the former director, announced that he would no longer be working with Coinbase in a blog post and a tweet yesterday.
The two-part Twitter posts says,
1. Last week marked the end of my tour of duties at Coinbase. I got the opportunity to do the best work of my career at @coinbase alongside the smartest and most humble group of people.
— soupsranjan (@soupsranjan) February 1, 2019
His post included several pictures to show exactly what he loved about the company.
The blog, posted to Medium, described a similar sentiment, saying that the “positive energy” of the company was part of his reason for staying.
In a more reflective manner about his time, he said,
“[W]hat I am most thankful for is that Coinbase taught me how to survive and win. We had many critical moments during my tenure that could have broken our trust with regulatory partners or users but we survived and won over all of those issues and built an incredible business due to only one thing: the positive energy and amazing resilience of the people here.”
Presently, Ranjan is part of the RiskSalon board of directors, which is a monthly round table that addresses risk management. Ranjan, along with co-founder Nate Kugland of Airbnb, established this roundtable in San Francisco, but it’s unclear if he plans to depart from this venture as well. It also has not been noted if Coinbase will replace him at all, or if they have done so already.
Linda Xie, who formerly worked as a manager for Coinbase and is now in charge of Scalar Capital, replied to Ranjan’s post. Xie said, “End of an era! It was such a pleasure getting to work closely together over the years.
Continuing on the farewell letter on Medium, he commented that Coinbase’s start had,
“a pretty hard payment fraud problem due to the instant and irreversible nature of cryptocurrencies.”
This issue led him and his team to create a system that allowed them to determine if a customer “is using a stolen payment instrument to purchase cryptocurrencies.”
He listed other accomplishments as well, like his introduction of the step-up authentication for further proof to prevent account takeovers from impersonators.
During the rally of December 2017, Ranjan recalled,
“[W]e had huge backlogs in Identity document verification. We had to turn away several customers. We quickly overhauled our verification infrastructure and went from a fully manual process to one where an automated system does a first pass at annotating and validating IDs followed by a fallback to the manual process.”
He concluded the blog with gratitude to his colleagues and supervisors, calling the experience a “crypto university” of sorts, giving him the knowledge that he needs to enter the community without Coinbase.