Coinbase, one of the leading cryptocurrency exchanges in the United States, was under the microscope of the entire cryptocurrency space when reports emerged that its providers were selling its customers’ data. This news resulted in the firm facing a severe backlash from the community, and importantly, it has failed to address this issue. According to recent reports, Christine Sandler, the Director of Institutional Sales, will be leaving the firm.
Interestingly, Sandler was the representative of Coinbase who revealed the information pertaining to customers’ data being sold by its providers. This statement was made in an interview with Cheddar, where she had revealed that this was the “important” reason behind the exchange acquiring Neutrino, a blockchain analytics start-up.
She had stated:
“Our current providers were actually selling our client data to outside sources and it was really compelling for us to kind of get control over that and have proprietary technology that we could leverage on to keep the data safe and to protect our clients.”
Notably, Sandler would be joining Fidelity Investments, one of the largest financial service providers around the world. Coinbase has not yet released an official statement on Sandler leaving, but a spokesperson confirmed the news to The Block. More so, she will be joining Fidelity Digital Assets as the head of marketing and sales.
A source who spoke to Coindesk said:
“It has become clear that Coinbase is focusing on crypto first and crypto-native hedge funds, and the team that Adam [White, a former Coinbase executive] brought on board was very much focused on the institutional world.”
The person further added:
Christine is part of that; she had decades of experience of working with traditional financial institutions. Her skills are much better suited to a company that is taking that approach – like Fidelity.”
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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.