Coinbase Hires Ex Blackrock Head

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Coinbase Hires Ex Blackrock Head

CoinBase Hires Ex Blackrock Head

Coinbase has hired former BlackRock director Anthony Bassili to look after its pension division. The crypto exchange earlier poached ex-Goldman Sachs Roger Bartlett, who was the co-head of operations there, He has joined as vice president of financial operations.

Both the big names are considered to be a wave of talent and Bassilli had earlier worked for the JPMorgan Chase & Co. However, the pension fund in cryptocurrencies is a new concept and is gradually getting integrated into it. The Relief and Retirement Fund of the Houston Firefighters has added Ethereum and Bitcoin to its portfolio.

The crypto exchange is operating an institutional business for the past couple of years by partnering with an SEC authorized broker-dealers. It has expanded by offering several products including lending financial products, algorithmic orders, OTC trading and research products mainly for the institutions.

About Coinbase

Coinbase was founded in June 2012 by Fred Ehrsam and Brian Armstrong. It is a cryptocurrency exchange and operates in more than 100 countries across the world. The key people currently responsible for its smooth functioning along with growth and expansion include co-founder and chief executive Brian Armstrong, COO and president Emilie Choi, and CFO Alesia Haas. All the employees work remotely and no physical headquarter is maintained. It is the largest digital currency exchange, with respect to trading volume, in the United States.

An SEC filing reveals Coinbase has 43 million users, 115,000 ecosystem partners and 7,000 institutions. Its revenue in 2020 was $1.14 billion, which was a good increase from the previous year of $483 million. It is equipped with $782 billion worth of crypto assets in the market and about $90 billion of it is held on the platform.

The buy and sell feature of the Coinbase platform is made available in 32 countries and its crypto wallet is accessible from 190 countries across the world.

About Cryptocurrency Exchange

A cryptocurrency exchange is a digital platform allowing people to trade cryptocurrencies such as Bitcoin, Ethereum and Dogecoin. Some exchanges accept payments through wire transfers or credit cards. It sometimes acts as a market maker and takes the spreads of bid-ask. Others charge fees on trading crypto assets. Some of the popular crypto exchanges are Binance, Bitstamp, Huobi, Upbit and Coinbase.

About Cryptocurrency

Cryptocurrency is a digital currency used as a medium of exchange. It has no physical existence and the transactions are done through a network of computers. It is decentralized and not under the direct control of any government, institution or authority. Bitcoin is the first-ever crypto coin that was released in 2009. A couple of other cryptocurrencies to name here are Ethereum, Dogecoin and Litecoin.

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