Cryptocurrency exchange Coinbase has hired Dan Yoo, the ex-COO of fintech startup NerdWallet, as Vice President of Business and Data. He will report directly to Coinbase COO Emilie Choi. At NerdWallet, Yoo oversaw nearly 10x in revenue growth.
At Coinbase, Yoo will manage the firm's partnerships, business decisions, and venture arm. According to Yoo, he will be leveraging Coinbase's data and analytics to help drive his decision-making.
Yoo's hire comes at a time of intense executive infighting and turnover at the San Francisco-based exchange. According to a report by The Information, executive clashes at Coinbase resulted in both the former COO Asiff Hirji and former CTO Balaji Srinivasan stepping down from their roles earlier this year.
In regards to executive turnover, Yoo tells The Block that "At crypto startups, there is management and executive turnover because you are dealing with the confluence of a dynamic industry + figuring out a solid long term direction" and that "it is not easy to get people to come together + execute effectively. And that results in turnover - especially across Silicon Valley.”