Surojit Chatterjee, the previous chief product officer at Coinbase, will formally depart the corporate on February third after reportedly making an estimated $105 million in inventory gross sales. 

In response to disclosures filed with the Securities and Trade Fee, Chatterjee will even retain 249,315 shares of Coinbase inventory. On the time of publication, Coinbase inventory was valued at $54.28 per share, by Google Finance. 

Chatterjee joined Coinbase from Google in February 2020 with a wage of slightly below $1 million per 12 months. In recognition of Chatterjee’s contributions to the corporate, Coinbase and Chatterjee have entered right into a separation settlement that features severance advantages and an advisory deal through which he’ll present advisory providers from Feb 4, by means of to Dec 31, 2023.

Within the disclosures filed with the Securities and Trade Fee by Coinbase, Chatterjee will obtain “a lump sum fee in line with our present Change of Management and Severance Coverage, which supplies for funds and advantages to govt officers upon sure qualifying terminations.” As well as, Chatterjee will “proceed to obtain medical health insurance protection pursuant to COBRA for a interval of ten months following the month of the Separation Date.” The severance advantages are contingent upon “Mr. Chatterjee not revoking a separation and launch of claims in favor of the Firm.”

In a Linkedin publish saying his departure from Coinbase, Chatterjee said:

“I’m wanting ahead to persevering with to contribute in my position as an advisor to Brian and the exec staff and to persevering with the onerous however vital work of making extra financial freedom and constructing a greater web for everybody.”

Associated: Coinbase lower prices and bolstered rep, however earnings stay challenged: Analysts

Coinbase continues to face challenges amid present market circumstances. On Jan 18, Cointelegraph reported that Coinbase would terminate operations in Japan and conduct a whole assessment of its enterprise within the nation on account of market circumstances. 

In consequence, all Coinbase Japan clients have till February sixteenth to withdraw their fiat and cryptocurrency holdings from the platform. After February seventeenth, any remaining crypto property held by Coinbase Japan clients can be transformed to Japanese yen.


Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Google Unveils New Blockchain Node Engine

Google is rolling out a new blockchain node engine for web3 devs this week, according to a press release on Thursday. This latest initiative from the powerhouse tech firm reflects a continued investment into web3 infrastructure, and looks to be another stepping-stone ‘win’ for the company in building goodwill with web3 developers. Win an all-expenses-paid…

‘Imminent’ crash for shares? 5 issues to know in Bitcoin this week

Bitcoin (BTC) starts its first full week of December at three-week highs as the bulls and the bears battle on.After a weekly close just above $17,000, BTC/USD seems determined to make the most of relief on stocks and a weakening United States dollar.As the United States gears up to release November inflation data, the USD…

Bitcoin (BTC) information & cryptocurrency information right now, worth & evaluation

The production team flew to Uganda for what was supposed to be “The Missing Cryptoqueen’s” last episode. They wanted to show how far the OneCoin scam traveled and what it did to its victims. The results are devastating. As it happened all over the world, people in Uganda couldn’t afford to lose one dollar and…

FTX collapse requires ‘prudent regulation’ within the UK

The collapse of FTX is being viewed as a cautionary tale and a precursor for more prudent regulation by public and private sector players in the United Kingdom.Bank of England deputy governor Sir Jon Cunliffe made headlines ahead of the Christmas weekend in an interview with Sky News, outlining his belief that greater protection needs…