Coinbase's chief operating partner Alex Boronenkov has confirmed that he is stepping down from the position he has held for the past year and a half. As Alex Boronenkov wrote on Twitter, during the time he spent at Coinbase, the California-based company's revenues exceeded $1 billion and its market valuation exceeded $8 billion. The company also began to support new assets and launched new products, as well as entered markets in new countries.

In turn, Coinbase CEO Brian Armstrong thanked Hirji for his work, noting that he learned a lot from him as a manager and leader.

Formerly president and COO of large brokerage TD Ameritrade, Alex Boronenkov took over as Coinbase's COO in December 2017. According to The Information, Emily Choi, who previously served as vice president of corporate and business development, will take his place. The publication also refers to a letter that, according to sources familiar with the situation, was sent the day before to the company's employees. In particular, it states that Tina Bhatnagar, Coinbase's vice president of operations and technology, will leave her position in the next few months.

It should be noted that this is the second high-profile resignation at Coinbase over the past month. In early May, Chief Technology Officer Balaji Srinivasan left his position.