Coinbase Exec Moves to Stablecoin Company TrustToken

Avi Rosten

Coinbase has seen another member of staff leave the company after a string of exits in recent months.

Vaishali Mehta, formerly senior compliance manager with the leading crypto exchange, has moved to stablecoin company TrustToken - the issuers of TrueUSD (TUSD) - as confirmed to Coindesk today (Jan 4th).

Now acting as head of compliance for TrustToken, Mehta is a veteran of several banks including Deutsche Bank New York.

This latest move is one in a series of departures of senior figures from the San Francisco-based exchange, which shot to prominence in the bull run of late 2017 and early 2018.

October saw two significant exits from Coinbase. Adam White, vice president and general manager, and one of the company’s earliest employees, moved to the hotly-anticipated new digital asset exchange, Bakkt, set to launch this year. October also saw Hunter Merghart, head of trading, resign - reportedly after becoming unsatisfied with the company’s institutional roadmap.

In November, Mike Lempres, chief policy officer left to VC firm Andreeessen Horowitz, while December saw two other departures with chief product officer Jeremy Henrickson and risk operations manager Rees Atlas also leaving.

Coinbase Looking Ahead

After a stellar period for the exchange in 2017 and early 2018, Coinbase - often the entry point into crypto for first time buyers - has seen its volume drop substantially since the heady heights of the last bull run.

The company however, has been far from inactive in the face of declining interest, recently expanding to six more European countries and announcing a new initiative “Coinbase Earn” - which allows participants to earn small amounts of cryptocurrency while learning about the digital asset space.  

Yesterday also saw Coinbase CEO and co-founder, Brian Armstrong, mark the tenth anniversary of the first Bitcoin block, with a Tweet thread explaining the origins of the exchange, reaffirming his love for bitcoin, and expressing his optimism for the future of the space.