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Coinbase Snags Lyft Engineering Executive Manish Gupta
Gupta will help Coinbase "through the next phase of company growth."
By Danny Nelson
Updated Sep 14, 2021, 9:41 a.m. Published Aug 10, 2020, 4:17 p.m.
Coinbase has hired Manish Gupta to lead its engineering team as the cryptocurrency exchange reportedly eyes going public.
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- CEO Brian Armstrong cited need to build "new crypto-native products and services" and its pivot to a "remote-first culture" in his Monday hiring announcement. But he was coy on specific projects for Coinbase's new vice president of engineering.
- Gupta, a longtime Silicon Valley tech engineer, previously ran ridesharing company Lyft's backend operations for two years. Before that he spent 16 climbing the ranks at Google Ads.
See also: Coinbase Considering 19 Additional Cryptos for Exchange Listing
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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