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Coinbase hires from Wall Street again – Looking to expand their territory?

Vinod KA

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Coinbase hires from Wall Street again - Looking to expand their territory?
Source: Pixabay

Coinbase serves as an online platform which offers secure buying, selling, transferring and storing of digital currency. They are headquartered in San Francisco and they broker exchanges of Bitcoin [BTC], Bitcoin Cash, Ethereum, and Litecoin with fiat currencies in around 32 countries. It is dubbed as the largest cryptocurrency exchange platform in America.

The Wall Street continues to be its favorite as it recently added another top-level executive from the New York Stock Exchange. The New Director of Institutional Sales at Coinbase is Christine Sandler who was an executive at the New York Stock Exchange. She was working at Barclays where she was a Managing Director until 2016. GADX which is Coinbase’s institutional trading platform is working on attracting more Wall Street clients and it tries to lure more business from the New York Stock Exchange.

Coinbase started to offer services in 2014 to institutional Wall Street firms via its GADX exchange and has been aiming for more institutional business in cryptocurrency and GADX at its core. They are now launching Coinbase Custodian which will offer the same level of security as custody banks with additional services that include: Dedicated account representatives and phone support, Multi-user accounts with separate permission and insurance in some cases. It is made available only to those who have $10 million in deposits.

Hiring talent from the Wall Street world is the key component of this expansion. The company had recently acquired Eric Scro who was the Head of Finance at New York Stock Exchange as its Vice President of finance.

Apart from hiring people from Wall Street, they have also hired a person form Ameritrade to act as its Chief Operating Officer [COO], whose name is Asiff Hirji.



Coinbase General Manager Dan Romero says:

“The company is scaling up to meet future demands from the institutional market and we are looking to hire a bunch of different executives at the company. “

He added:

“We are also looking forward to double our staff numbers from 250 to 500 in 2018.”





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Vinod KA is an intern at AMBCrypto who has been analyzing the cryptocurrency market trends for several months now. He joined the company out of sheer interest in the cryptocurrency world and is fascinated by its dominance in the financial world. He does not hold value in any cryptocurrencies as of now.

Altcoins

EOS, Tron [TRX] and Ethereum [ETH] are top three cryptocurrencies, says China’s CCID Group

Akash Anand

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EOS, Tron [TRX] and Ethereum [ETH] adjudged top three cryptocurrencies by China's CCID Group
Source: Pixabay

Analysis of the cryptocurrency market by various global entities has been a standard procedure for a lot of organizations to keep track of the updates and developments in the field. One such major analyst is China’s CCID Group, which works under the Xi Jinping-led country’s Ministry of Industry & IT [MIIT].

In the latest edition of CCID’s Global Public Blockchain Technology Assessment Index, it was stated that EOS retained its title as the best cryptocurrency according to three factors assigned by CCID. The three factors were basic technology, applicability, and creativity, criteria that are aimed at assessing the most effective digital assets in the market right now.

In terms of basic technology, EOS scored a whopping 103.7, making it the only cryptocurrency to breach the 100-mark. It received a score of 20.2 and 24.7 when it came to applicability and creativity, respectively. The surprising result of this assessment was that Bitcoin [BTC], the largest cryptocurrency on the charts, did not even feature in the top-10 of the CCID rankings.

According to the analysis, Tron came in second with a Basic tech score of 95.6 and an applicability score of 24.3. Tron CEO Justin Sun had stated multiple times that EOS and Ethereum were Tron’s biggest competitors, but it turns out that it had the lowest creativity score among the three, clocking 24.1 to Ethereum’s 31.0.



The third-ranked cryptocurrency was Ethereum [ETH], sticking to the trend as all the three cryptocurrencies were focusing on DApps. Despite being third in the rankings, Ethereum had the lowest basic tech score, with its 76.6 being lower than that of relatively smaller coins like Steem and Ontology.

There seem to be some connection with DApps and the CCID rankings as these applications slowly entered the main fore in the cryptocurrency environment. Sources informed that Tron DApps had recently surpassed that of Ethereum and EOS in terms of weekly active and new users.





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