Coinbase Shuts Chicago Office as Crypto Slump Continues

Winter is here.

23 Apr, 2019FORTUNE.COM

BEAM - Coinbase Shuts Chicago Office as Crypto Slump Continues | BEAM

In May 2018, Coinbase opened an office in Chicago as part of an ambitious plan to expand its trading products and tap the city’s finance expertise. Less than a year later, the cryptocurrency company is abandoning those plans, and laying off approximately 30 engineers in the process.

In a statement on Tuesday, Coinbase said it would shut down the office and scale back plans to build a new “matching engine” product aimed at high-frequency trading....

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