The former chief product officer at US-based Coinbase, Surojit Chatterjee, will leave the company in the first week of February. In Feb 2020, Chatterjee joined the company from Google. Chatterjee contributed huge profits to Coinbase during his service period.
Chatterjee posted on his social media account that “I am looking forward to continuing to contribute in my role as an advisor to Brian and the exec team and to continuing the hard but critical work of creating more economic freedom and building a better internet for everyone.”
Coinbase is providing special packages to recognize Chatterjee’s contributions . Chatterjee will also hold 249,315 shares of the company’s stock. At press time, the Coinbase stock was valued at $53.56 per share.
He will receive “a lump sum payment with our existing Change of Control and Severance Policy, which provides for payments and benefits to executive offers upon certain qualifying terminations.”
Coinbase halts Japan operations
Japan is one of the world’s largest markets by crypto trading volumes. In 2021, Coinbase officially registered in the Japanese crypto market after registering with the Financial Services Agency (FSA).
On Jan 18, Coinbase officially announced that it would terminate its operations in Japan due to volatile market conditions. The Japan Coinbase customers have to withdraw their fiat and crypto holdings from the platform before Feb 16. After Feb 16, the assets held by the users will be converted into Japanese Yen.
Coinbase users filed a Lawsuit For Stolen Crypto Stalling Investigation
Users of US-based crypto exchange Coinbase who sued the firm in October 2022 for unauthorized crypto transfers on the platform are reportedly stalling the case. In a December 2022 motion, Coinbase told the court that the firm and the users disagreed on “whether to include a provision in the protective order.”
Earlier, Coinbase denied the users’ request to add a provision in the court order that details the organization will waive its right to arbitration, which was in the company’s terms of service.
Nearly a hundred Coinbase users across the world raised their voices against the crypto exchange for not taking any measures to protect users. According to a recently filed arbitration demand, “Coinbase took no remedial steps to fix the security flaw or even warn customers about this major problem, despite warning customers about other security risks.”
Source: https://www.thecoinrepublic.com/2023/01/28/surojit-chatterjee-was-receiving-special-packages-from-coinbase/