Coinbase’s Vice President of Institutional Products steps down as company’s institutional wing departs

Coinbase has been in the news several times over the past few weeks, whether it is about its latest cryptocurrency debit card or because of the comments made by CEO Brian Armstrong. The latest news from the world’s largest cryptocurrency exchange in terms of users is that Dan Romero, Vice President of International Business — UK/EU, APAC across Consumer and Institutional products, has left the company after 5 years. In an official blog post, Romero said,

“An increasing number of cryptocurrency entrepreneurs are quietly building the infrastructure necessary for a more open, permission less and decentralized version of the Internet and the global financial system. Coinbase remains a key part of this story by providing the trusted and easy-to-use bridge between traditional finance and cryptocurrency.”

What makes Romero’s departure significant is the fact that after his resignation, Coinbase saw its entire institutional wing depart from the company.

With the latest development, members of the crypto community are speculating that Coinbase will now solely focus on crypto, rather than heading the Wall Street and institutional way. Coinbase was also in the news recently after Coinbase Pro suspended Bitcoin trading over an undisclosed issue. The service was then resumed two hours later, much to the joy of users. The update from the company said,

“We are continuing to work through the cancel process, upon completion we will re-open BTC-USD in post-only mode for at least 1 minute.”

The exchange also launched its very own Visa-powered cryptocurrency card. The exchange informed users,

“Coinbase Card is powered by customers’ Coinbase account crypto balances, giving them the ability to pay in-store and online using bitcoin, ethereum, litecoin, and more. Customers can use their card in millions of locations around the world, making payments through contactless, Chip and PIN, as well as cash withdrawals from ATMs.”

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