Executive Leaves Goldman Sachs for Coinbase• February 27, 2022 3:05 pm • Comments
An executive that had worked at Goldman Sachs for 16 years has recently announced his departure from the investment bank and joined Coinbase in order to ’embrace the crypto economy’.
The executive, Roger Bartlett, mentions that the current change that is happening could be a once in a lifetime opportunity for everyone to take part in the digital revolution that we are going through right now.
While at Goldman Sachs, he was the managing director and co-head of operations for global markets and has also been involved in many traditional finance roles.
This new move from traditional finance could be the start of many traditional finance and banking talent to start transitioning into crypto startups and companies.
So far, we are already seeing this shift in top tech companies as well which will help accelerate the technological infrastructure and development progress that many crypto projects still need in order to truly become mainstream in the future.
— Bitcoin News (@BTCTN) February 26, 2022
Bartlett announced on Linkedin Friday:
After 16 years at Goldman Sachs, it’s time to embrace the crypto economy. I am delighted to announce that next week I’ll be joining Coinbase to run Global Financial Operations.
He explained that now it is time to take his experience from Goldman Sachs and follow his “passion to help enable the next generation crypto economy.”
The former Goldman Sachs executive opined: “The inspiring purpose led mission to create economic freedom in the world, in a customer first, automation first approach is a once in a lifetime opportunity to be part of building the next stage of the digital evolution.”
Coinbase is a Nasdaq-listed cryptocurrency exchange operator. The company said Friday that the number of verified users on its platform has risen to 89 million.
Meanwhile, the number of monthly transacting users reached 11.4 million at the end of last year.
Coinbase is a US based exchange that has experienced significant growth and has reportedly experienced trading volume that has grown by 8.5 times compared to the previous year.
It is often compared to often popular exchanges worldwide such as Binance and Crypto.com which all experienced increased trading volume last year due to the overall crypto market bull run in 2021.
Based on Coinbase’s data, its market share of trading volume for all of the assets that the exchange lists had also increased indicating that the exchange is attracting more customers as time goes on.
The US crypto exchange has also been aggressively hiring and growing its team with the company’s workforce tripling between the years 2020 and 2021.
Crypto is NGMI, which is why a top Goldman Sachs executive is spurning the billion dollar investment bank for American crypto exchange Coinbase…
— CRU News (@CRUNewsDesk) February 25, 2022
The US crypto exchange giant has steadily grown its workforce over the last year. This aggressive hiring spree saw the company’s employee base triple between 2020 and 2021, ending the year with 3,730 staff members.
Some of these new employees have been high-profile hires from the traditional finance (“tradfi”) space. Earlier in the year, the exchange tapped a former US Securities and Exchange (SEC) counsel to lead its public policy division.
According to its Q4 2021 earnings report issued on Thursday, Coinbase still has plans to add more workers to its payroll with a target of reaching 6,000 employees by the end of this year.
Growth of major exchange such as Coinbase are often a good indicator of the long-term health of the cryptocurrency industry and markets in general.
With the continued expansion of major crypto exchanges, it is often a by-product of the increasing awareness of crypto by the mainstream public which bears good news for early crypto investors.
when the head of @GoldmanSachs operations leaves for @coinbase you cannot ask for better signal that #crypto is here to stay and the biggest opportunity of our lifetimes is right in front of us #web3 https://t.co/QXPTENv225
— Joseph Dahari (@DahariJoseph) February 26, 2022
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