Blockchain.com Sees Its Employees Fleeing The Company

Blockchain.com sees its employees fleeing the company right after they unveiled the new product- the PIT Exchange. The infrastructure provider is facing the same situation Coinbase did a few months ago as we reported in the blockchain news previously.

The technology publication The Information reported just a few days ago that Blockchain.com sees its two-high level executives leaving the company. Some sources familiar with the issue told The Information that both the executive vice president of finance Chris Lavery and Chief Operating Officer Liana Douillet Guzman will leave the company. If this turns out to be true, this could have a major impact on the company as these two individuals are the longest-serving executives at the company being there since 2015. The insider information states that some other executives had also made exists including the head of institutional sales and strategy, global head of security and the head of institutional markets.

The information’s report explains that many of the departures in the company are due to the inability to fit with the new crypto-centric culture that is present at the company. However, other sources claim that the departures might have something to do with the inability to improve their careers at the company and also the constant giveaway of millions of dollars to get the consumers using the Stellar Lumens wallet. Although Blockchain.com may be facing an employee exodus, the startup revealed that it had already hired Howard Surloff as the new General Counsel which has more than 25 years of experience in legal strategy:

 “Howard’s passion for legal, compliance, and operational excellence in new markets will be vital to executing our strategy globally.”

In related news, Yahoo Finance reported that Blockchain.com is looking for an additional $50 million in funding for a new venture which will be used to invest in cryptocurrency startups and digital assets. Blockchain’s case is also very similar to the one of Coinbase since over the past few months the giant saw some half-dozen executives leaving the company in search of new adventures as reported previously latest cryptocurrency news. The executives who left the industry include COO Asiff Hirji, Adam White and CTO Balaji Srinivasan.