- Briefing Your roundup of Asian tech and startup news that matter
Xavier Kong · · 1 min readCoinbase hires former Prosus exec for India expansion
Nasdaq-listed crypto exchange Coinbase has appointed Arnab Kumar as its director of India market expansion, reported TechCrunch.
Kumar was previously an executive in economic policy think tank Niti Aayog as well as global investor group Prosus.
His appointment comes on the heels of Coinbase axing 1,100 from its global workforce in preparation for another “crypto winter.” The company has also been revoking job offers.
Coinbase launched its services in India earlier in April, but they were suspended soon after. The firm alleges that they were receiving informal pressure from the Reserve Bank of India (RBI) despite India’s Supreme Court lifting the RBI-imposed ban on cryptocurrency.
Several Indian banks have also questioned the informal pressure or “shadow ban” from RBI and are seeking a formal circular. Coinbase CEO Brian Armstrong reacted to the sentiments positively.
See also: Coinbase’s Asian expansion: wrong place, wrong time?
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
