Wednesday 24 April 2019
Prominent cryptocurrency exchange Coinbase is set to close its Chicago office just a year after it was opened, and will let go around 30 software engineers in the process, reports Fortune. The group had been tasked with building a special “matching engine” product for high-frequency trading. A Coinbase spokesperson said the high-frequency trade technology was no longer a priority. Instead, the firm is to focus on other products like over-the-counter trading and custody services. Coinbase will reportedly relocate “a small number” of Chicago-based matching engine devs to its main office in San Francisco, as well as maintain a remote sales force in…
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