Turmoil in Coinbase as Tim Wagner, VP of Engineering, Becomes Latest Executive Leader to Exit
It’s now official that Coinbase’s Tim Wagner has parted ways with the giant cryptocurrency platform. Confirming this, an unnamed spokesperson in the platform didn’t divulge much about this latest happening, only stating that July 30 was VP of Engineering’s last day with the crypto giant.
Tim Wagner was one of the high profile alums of big tech to jump ship, switching from Amazon Web Services to crypto. He was incredibly experienced having spent a better part of his career working at the world’s leading tech firms. He joined slightly over a year ago, having spent over six years at Amazon Web Services, where he was one of the highest-ranked executives.
His exit will understandably be a huge blow to the San Francisco-headquartered digital asset exchange which has been having it rough the past couple of months. But according to an insider, their exit from the platform is as a result of tension and a huge rift in the top management.
Wagner had served as the Visual Studio Ultimate’s director of development before joining Amazon. While at AWS, however, he served at different positions, including being a GM of AWS Lambda, AWS Serverless App Repository, and Amazon API Gateway.
His Departure Signals an Unpleasant Turn of Events at Coinbase
Coinbase has been rocked with a series of employee exits with some of the other high profile persons reported to have left being CTO Srinivasan and COO Asiff Hirji who both exited in May. Srinivasan, a veteran in the industry, has been with Coinbase for about four and a half years.
It has lost quite a number of employees, who already includes the now-former senior director of engineering, Namrata Ganatra. Ganatra is reportedly heading to Lambda School where he’ll work as CTO of the new education startup.
The platform just recently lost yet another crucial member, Andrew L. Ridenour, who had spearheaded the formation of a legal framework and business plans in Coinbase. He greatly helped streamline the platform’s trading and custodial services.
The exit of Ridenour, who joined the exchange half a year ahead of Wagner, was another high profile exodus. He is, however, set to rejoin United States Commodity Futures Trading Commission where he’ll offer legal and policy counsel on futures and derivatives markets.
Connie Yang, the platform’s immediate former director of design, left Coinbase a little over a month ago. The Facebook alum, however, has so far given no official reason behind his exit.
It is reported that differences trickling down to the company’s executive ranks have forced many to leave altogether. Coinbase has an estimated 700 employees in all of its offices across the planet, but no one knows who the next major employee to leave will be.
Their Exits “is no big deal”
It has been doing quite well and, according to Nick Tomaino, one of the platform’s veteran employees, the recent happenings “is no big deal.” According to CoinDesk, Tomaino is confident that the exits have no impact on Coinbase’s operations.