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Coinbase launches hub for rescinded hires to connect with future employers

Coinbase has created a directory of rescinded hires to connect them with other opportunities in the wake of revoking their offers. The hub already has over 300 submissions. The Coinbase Talent Hub, which allows rescinded hires to add themselves for visibility to other recruiters, currently lists 323 candidates at publication time. The directory includes the name, discipline, work authorization, visa status and contact information of individuals affected by the hiring changes. It also includes a job board with over 93 …

Coinbase pumped the brakes on hiring as Wall Street’s love affair cooled

“I just got an email today saying my offer had been rescinded … due to a massive hiring plan change at Coinbase.” That’s Ashutosh Ukey, who is among the tech industry workers who saw their hopes to work at one of the biggest digital asset exchanges dashed after Coinbase rescinded outstanding offers as part of an effort to scale back hiring. On May 16, Coinbase said that it would slow hiring in response to an ongoing market slowdown. Then, last …

Why Coinbase is undervalued, according to a top Wall Street analyst

Episode 49 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Mark Palmer, Managing Director and Senior Equity Research Analyst at BTIG. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] Coinbase shares are down over 70% on the year, a state of affairs compounded by a rough Q1, but one leading Wall Street analyst believes Coinbase may be undervalued.  In this episode …

Coinbase extends hiring freeze, will rescind some accepted offers

Coinbase is rescinding some accepted job offers and extending an existing pause on hiring new candidates as part of an effort to adjust to the macro environment and general volatility in crypto, according to a blog post published Thursday evening.  It’s unclear how many offers will be rescinded, but limited exceptions will apply, the company said. Coinbase also didn’t specify how long the hiring pause will be. “The extended hiring pause will include backfills, except for roles that are necessary …

55 key crypto hires, exits and moves: May 2022

Quick Take Some large crypto companies are slowing down their hiring plans in light of market conditions. Despite this, many crypto firms are still hiring, with a big focus on regulatory and compliance hires, plus marketing. This feature story is available to subscribers of The Block News Plus. You can continue reading this News Plus feature on The Block.

FTX surpassed Coinbase as second-biggest centralized crypto exchange in May

FTX overtook Coinbase’s spot in May as the second biggest centralized crypto exchange in terms of market share, according to data compiled on The Block Research. The dominant player in the market was still Binance by far, which commanded a 64.1% share, followed by FTX (10.8%) and Coinbase (9.6%) during the monthly period. Coinbase has recently faced some struggles, posting a net loss of $430 million for Q1 2022 and falling on the stock market by roughly 36% in May. …

Coinbase becomes the first crypto company to enter the Fortune 500 list

Exchange operator Coinbase has become the first crypto company to make the Fortune 500 cut — an annual list of America’s largest corporations by revenue — ranking at 437. The move comes despite Coinbase’s current struggles induced by bearish market conditions. This is because Fortune has ranked companies for its 2022 list based on their 2021 revenues. The revenue threshold for the 2022 Fortune 500 list was $6.4 billion, up 19% from last year’s limit, Fortune Media announced on Monday. …

Coinbase is launching an initiative to slash spending and grow revenue: The Information

After publicly announcing plans to slow hiring, tough market conditions have pushed crypto exchange Coinbase to look for ways to slash spending, according to emails obtained by The Information. Coinbase has felt the fallout of recent market conditions, incurring a net loss of $430 million in its first-quarter earnings and a plummet in its stock, $COIN. That led the firm to announce that it was reevaluating its previous plan to triple the size of the company and instead slow hiring …

Coinbase is launching an in-house crypto think tank

Quick Take Coinbase is launching its first-ever in-house think tank. The team will work with academic institutions, policymakers, and crypto leaders to put out research reports.  Crypto exchange Coinbase is launching a new crypto-focused, in-house think tank.  The think tank will work with academic institutions and other think tanks to conduct research. The first partnership of this kind is with the University of Michigan’s Survey Research Center, which conducts surveys for the U.S. Census Bureau and the Department of Defense. …

Coinbase, Figment back new institutional liquid staking protocol Alluvial

Coinbase and crypto staking firm Figment are supporting the development of a new liquid staking protocol aimed at institutional investors. Coinbase Cloud and Figment will serve as validators on the new Alluvial protocol, according to separate statements from Alluvial and Coinbase shared with The Block on Tuesday. Alluvial is being developed by a team led by three founders: Matt Leisinger, former head of liquid staking products at Figment; Nicolas Maurice, the former CTO of staking platform Kiln; and Mike Taormina, …