2 years ago
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This comes in at a time when the exchange has been getting a lot of bad press as many of its users have reported that their exchange wallets have been drained off the cryptos that it had and the company has been battling to handle this mini-crisis. This is true for many crypto firms which are still lax in their security processes and thus make themselves easy prey for hackers and the fact that this is happening at a major public exchange, is not good for the crypto ecosystem.
But bringing on an industry veteran who had spent a decade at Facebook, a company that is not new to controversies, should help to shore up its image as Kate had been the head of the brand and product marketing at Instagram, WhatsApp, Messenger, Facebook App and company as well and she had done a major job in growing the userbase for all these applications over a period of time.
“Kate’s experience at a company with the scale and impact of Facebook will be invaluable as we continue building our brand, growing our teams, and working to bring millions of more people into the crypto economy,” Coinbase’s president and CEO Emilie Choi said.
This is another indication of the fast-growing nature of the crypto world and how it is likely to continue to move towards the mainstream in the coming years as we are seeing that major crypto firms are now able to hire top talent from different industries and are also contributing to bringing crypto mainstream. This is only going to grow in the coming years though, for Coinbase, the coming months are going to be a challenging phase as it needs to show the world about the strong security protocols in place to avoid such hacks in the future while at the same time, negotiating with the regulators to be able to continue and expand at the pace that is needed for them,
The regulators have also mellowed down their approach to crypto as they begin to realize that it is an industry that is here to stay and so the better approach might be to regulate and control the industry rather than wishing for it to be gone forever overnight.
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