Coinbase Exchanger names new president after struggle to expand
Coinbase, one of the most popular crypocurrency exchanges, has a new president. The company announced that Asiff Hirji has joined the company as president and chief operating officer (COO). Hirji will work for the success of Coinbase alongside the company's co-founder and CEO Brian Armstrong.
Coinbase's decision to hire Hirji is not surprising, considering his experience working for Andreessen Horowitz, Hewlett-Packard and TP Ameritrade. Hirji actually was a partner at Andreesen, while he also had executive roles at the two other mentioned companies.
Hirji joined Coinbase after the exchange's struggle to expand
The official announcement of Hirji joining the Coinbase team was made by the company on Friday. Hirji will replace Fred Ehrsam, Coinbase's co-founder and former president. The move is considered to be linked to Coinbase's efforts to expand and keep up with new cryptocurrency exchanges.
Despite these challenges, Coinbase is still considered to be one of the most popular and mainstream exchanges for bitcoin, ether and litecoin. The way Coinbase functions makes the trading process simple and actually gives investors some confidence. Coinbase only exchanges digital currencies that have shown stability.
However, considering its number of users and popularity, Coinbase has also dealt with some issues. The company has last week experienced an outage which led to users being locked out of their accounts and in the impossibility to trade. The outage occurred on Wednesday morning, when users could not buy or sell digital currencies.
Coinbase stated at that time that the all-time high traffic experienced by the system led to the outage. On Friday, the system was not accessible because it was under maintenance, the company said. Previously, Coinbase announced that it was investing in growing its customer service department.
However, these were not the only issues for Coinbase in the past few days. The Internal Revenue Service also won a case against the company, which will have to provide the agency with the information of more than 14,000 customers.