Coinbase Global Inc. has recently witnessed a significant change in its leadership, particularly within its custody service. The head of Coinbase Custody, Aaron Schnarch, has left the company. In a move that marks a new direction for the firm's custody operations, Rick Schonberg has been appointed to fill the vacated role.
According to sources, Rick Schonberg, who joined Coinbase in 2021, brings a wealth of experience to his new position. His professional background includes notable stints at Goldman Sachs, State Street, and Tagomi. This information was confirmed through his LinkedIn profile and reported by Bloomberg.
In another development within the cryptocurrency space, the PancakeSwap community has cast their vote on a crucial proposal that will significantly impact the platform's native token. The proposal aimed at reducing the total supply of CAKE tokens to 450 million was approved. Such decisions are pivotal as they can influence the token's scarcity and potential value.
Details of these updates from Coinbase and PancakeSwap can be found on their respective official channels and further information is available via Bloomberg's report on the leadership change at Coinbase Custody.
These developments are indicative of the dynamic nature of the cryptocurrency industry where organizational shifts and community-driven decisions can have far-reaching implications for both companies and token holders alike.