For Recruiters
A reason to stick to engineering jobs in established firms?

Coinbase ejecting senior ex-bank engineers as pro service shuts

The vision is no more, or is at least being heavily pared back. After launching a professional trading platform, Coinbase Pro in 2018, Coinbase announced yesterday that it's merging pro into a "new unified Coinbase account" with the result that Pro will effectively cease to exist. 

The move seemingly won't impact Coinbase Exchange, but will simply mean that all users can access Coinbase services in one place. However, it's likely contributed to the exit of many of the senior engineers who joined Coinbase from financial services firms.

Most senior among them is Jonathan Yam, who spend a year building Coinbase's engineering team after joining from IEX the US stock exchange founded in New York City in 2012. Yam's remit included everything from exchange development to product and platform engineering, exchange operations and architecture and strategic initiatives. He previously worked everywhere from Lehman to Barclays to RBC and Citi.

Two months ago, Yam was hiring remote engineers for exchange trading jobs at Coinbase. However, last week, he said he was among Coinbase's 1,000 job cuts.

Engineers are among the employees most impacted by the layoffs. Coinbase's 'talent hub', which lists all the employees let go, has the names of 328 engineers looking for new roles. They include engineers who were in the process of joining before having their offers rescinded, including Yu Kuan Ma from Credit Suisse in New York, Somi Ogbozor from Goldman Sachs, Sanjay Paraboo from AQR, and Michael Kazman from Royal Bank of Canada. 

Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for top jobs in technology and finance. 

Have a confidential story, tip, or comment you’d like to share? Contact: in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Photo by Vladislav Bychkov on Unsplash

AUTHORSarah Butcher Global Editor

Apply for jobs

Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Latest Jobs
Selby Jennings QRF
Capital Markets Analyst - DeFi Startup
Selby Jennings QRF
Manhattan, USA
Anson McCade
Quant Developer
Anson McCade
Manhattan, USA
Anson McCade
Equity Quant Researcher/Quantitative Analyst
Anson McCade
London, United Kingdom