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Another Coinbase employee left the unicorn of the cryptocurrency industry for a smaller start.
Vaishali Mehta, who worked as a senior compliance manager at Coinbase from November 2017 to November 2018, joined TrustToken last month as a compliance officer.
"Crypto is an exciting place and I was lucky to be part of this" madness "," Mehta told CoinDesk through a spokesperson. "I really connected to the vision of TrustToken to promote a new financial future that is resistant to fraud, bankruptcy and greed".
TrustToken, the company behind the stablecoin TrueUSD, has confirmed the rental. Coinbase did not respond to CoinDesk's request for comment at the time of printing.
Former principal of the BSA / AML (Bank Secrecy Act / anti-money laundering) risk and onboarding at Deutsche Bank, Mehta is one of the many high-level or long-term employees who have left Coinbase in recent months.
In October, Adam White, who was the fifth employee of Coinbase, left to become the chief operating officer of Bakkt, the new digital asset trading platform created by Intercontinental Exchange, the parent company of the New York Stock Exchange. Also that month, the head of Coinbase trading, Hunter Merghart, resigned after just six months of work.
Mike Lempres, Coinbase's Chief Policy Officer, left for venture capital company Andreessen Horowitz (an investor in startup) in November. And last month, the Coinbase risk manager, Rees Atlas, who joined in 2013, moved into the Twilio marketing communications and soon after principal product manager Jeremy Henrickson quit.
New employer
Last year was a busy period for Mehta's new employer, TrustToken. After launching TrueUSD, a stablecoin backed by US dollars, in March, the company raised $ 20 million in venture capital through a strategic token sale by investors such as Andreessen Horowitz (a16z), BlockTower Capital, Danhua Capital and others to June.
In December, TrustToken reported that a verification of the security of the smart contract was passed by Certik, SlowMist and Zeppelin. The company has stated that it is storing its dollar reserves in several third-party trust companies regulated by several US states.
TrueUSD is one of several cryptocurrencies designed to maintain parity with the US dollar launched in 2018 to compete with the market leader, known as Tether or USDT. Stablecoins allow encrypted merchants to transfer money quickly between the stock exchanges without having to rely on the banking system. Tether suffered a crisis of confidence in the autumn between questions about his support for the dollar, even if he later regained his parity with the greenback.
As of Thursday evening, the market capitalization of TrueUSD exceeded $ 200 million.
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