New detail on how the turmoil at Coinbase has hit the company's efforts to secure its Bitcoins.
Among the people who resigned this fall - to protest new internal policies - were 4 of the 7 people on the most critical security team, the "key management team," sources told me.
Among the people who resigned this fall - to protest new internal policies - were 4 of the 7 people on the most critical security team, the "key management team," sources told me.
The "key management team" is responsible for securing the cryptographic keys to Coinbase's cold wallets, where most of the company's crypto tokens are held -- somewhere in the neighborhood of $30 billion I was told.
No job is more fundamental to the company's success.
No job is more fundamental to the company's success.
These jobs require incredibly specialized expertise and are not easy to replace. I was told that losing more than half the team has set back new projects and required lots of internal scrambling to backfill roles.
It's interesting that these crypto experts, with such specialized technical expertise, were among the most willing to protest the new no-politics policy that the company's CEO, Brian Armstrong, put out in September.
My recent story has more on the impact that the new internal policy had on the company.
While several high-ranking employees left, lower paid employees said they would have a harder time finding a new job and so couldn't leave even if they wanted to.
nytimes.com/2020/11/27/tec…
While several high-ranking employees left, lower paid employees said they would have a harder time finding a new job and so couldn't leave even if they wanted to.
nytimes.com/2020/11/27/tec…
I previously provided an unintentionally glib summary of the company’s comment on these departures, from one of the top security people. I’ll just post his thread and leave it at that.
https://twitter.com/securityguyphil/status/1336082099376287745
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