Cryptocurrency exchange Coinbase is hiring a CFO

Coinbase is hiring a chief financial officer (CFO). This would be a significant move in the company's growth plans but also raises questions about whether the company plans to launch an initial public offering (IPO).

Coinbase is a US cryptocurrency exchange founded back in 2011 by Brian Armstrong and Fred Ehrsan. It has two core products. One is a Global Digital Asset Exchange (GDAX) that trades a variety of digital assets. Coinbase is reported to have had revenue of $1 billion in 2017. The company was valued at $1.6 billion last August.
Hiring a CFO is top priority for Coinbase
Often adding a CFO to a company is looked at as a sign that the company is contemplating an IPO. However, with Coinbase it may simply be that it needs a CFO to properly manage its complicated business model.
Coinbase is already in late-stage talks with several candidates. Tim Laehy a veteran CFO had already joined the company last October but just as an interim CFO. He is not expected to remain.
Coinbase has already hired vice presidents to deal with communications and corporate development. The two will help Coinbase manage its massive growth as interest in cryptocurrencies has soared.
Although Coinbase has refused to comment. Brian Armstrong the CEO said last year that it typically takes him 6 to 12 months to choose the right person.
Investors clamoring for shares
Investors have been pestering the company to allow them to buy shares even though Coinbase told them to desist. The company has been evaluated by investors seeking shares at from as low as $2 billion to as high as $8 billion showing that the market is volatile, unclear, and also not liquid.
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