Coinbase Director Leaves To ‘Build From Scratch
The director of Coinbase’s data science and risk department named Soups Ranjan has made a surprising move. According to the official report, he decided to leave the digital currency exchange after working there for three and a half years.
The aforementioned executive informed the general public about his decision on Twitter. He also published a lengthy blog post, which explained his decision to do so. First, he confirmed the end of his “tour of duties” at the company and talked about the handful of systems and/or teams he built from scratch.
Ranjan stated that his experience with Coinbase was quite exhilarating, especially since the company is a guaranteed “rocket-ship.” Still, he cannot help but relay his gratefulness towards the firm, which gave him a front-row seat on. He piqued the interest of many after saying that more exciting things are coming from him.
The former director is currently on the board of directors of RiskSalon, which is a monthly roundtable when it comes to risk management in the San Francisco Bay Area. It is also the company that he co-founded with the data science manager at Airbnb named Nate Kugland. It is unclear, however, if he is going to make a next career move, let alone disclose what it is going to be about.
Following Ranjan’s departure, the former Coinbase manager and co-founder and managing director at Scalar Capital named Linda Xie reacted on Twitter as well. She described Ranjan’s exit at the end of an era and thanked him for the pleasure of getting to work alongside over the years.
Risk Management During Tricky Times
As per the account of Ranjan, it is essential to continue building security features and/or tools for users. By doing so, all workflows targeted at accounting, legal, and compliance teams can run seamlessly. This process could also significantly help when it comes to managing identity verification and, more importantly, know-your-customer (KYC) process.
Ranjan was also responsible for spearheading the data science team, which is tasked to automate the process of identifying and anti-fraud checks at Coinbase. In his farewell post, the executive suggested that the company experienced a significant payment fraud issue because to “the instant and irreversible nature” of digital currencies.
Due to this, he and this team decided to develop a system involving user scores, as well as machine-learning-based mechanisms. This would ultimately detect whether a customer is utilizing stolen payment instrument in order to buy digital currencies.