A mainstay in the cryptocurrency game has put its foot in the New York market with new offices that opened up recently, according to a report from News BTC. The crypto startup, Coinbase, was founded in Silicon Valley in 2012 and its executives are hoping to find more investors on the east coast with this latest announcement.
This news comes on the heels of the Bloomberg report that former Coinbase vice president Adam White is leaving the company. White had been fundamental in setting up Coinbase as one of the go-to cryptocurrencies in a now-crowded marketplace.
“While we’re extremely sad to see him go, we’re also confident in that group’s ability to keep executing on the vision that he laid out to be the most trusted venue for institutional investors to trade cryptocurrencies,” a company spokesman told Bloomberg via email.
Coinbase’s yearly revenue was valued around $1 billion for 2017 and new managing director Jonathan Kellner, a former CEO at Instinet, will look to keep that good fortune rolling in the startup’s favor. The report from News BTC said that Coinbase’s total operation is currently valued at $8 billion.
Before White left the company, he helped with the unveiling of the New York offices during a September event.
Coinbase New York is now officially open. pic.twitter.com/JCe8r392LB
— Michael del Castillo (@DelRayMan) September 13, 2018
According to CoinDesk, the Wall Street offices will be hiring 100 new employees in the area. Eventually, company executives say, they want to spread beyond U.S. borders and become a completely international company. The New York offices should give the firm more advantages going forward when trying to dip their feet into the international market.