Coinbase Hits 500 Employee Mark, Shrimpy Adds Portfolio 'Rebalancing' to Coinbase Pro

On the heels of declaring Coinbase a "Cryptocurrency company" instead of a tech/finance firm, Natalie McGrath, head of people and operations, revealed that the startup reached 500 employees, Aug. 24.Coinbase Hits 500 Employee Mark.

In a tweet, McGrath stated the company has hired more than 500 employees, indicating the fast growth of the self-stylized "Google of Cryptocurrencies" and proving to world governments that the digital asset ecosystem could create significant employment and industry for the broader economy.

On the same day, CEO Brian Armstrong shared an email with employees about Coinbase's segmentation in the startup world, reportedly after being posed the question.

The aforementioned fixtures, according to Armstrong, make Coinbase a technology company "Driving a ton of innovation and growth in the world today." However, the CEO concluded by stating the firm fits in the newly-developed "Crypto" category instead of a "Fintech" organization.

Despite its rise to relevance, 2018's prolonged bear market has caused Coinbase's trading volumes to plunge substantially.

For investors, the data shows a definite lack of market sentiment from retail buyers, who typically turn to Coinbase for their first cryptocurrency investments due to the platform's ease-of-access and relatively developed legality.

Portfolio rebalancing application Shrimpy has added support for Coinbase Pro according to an official blog post.

The support will be specific to Coinbase Pro and will aim to "Rebalance" the portfolios of both retail and institutional investors once a year.

A traditional market strategy, rebalancing involves tracking an asset's performance over a particular period and increasing one's investment, divesting and distributing profits to other portfolio holds.

Coinbase Pro customers can also now rebalance their portfolios across four other crypto exchanges and 100-plus different cryptocurrencies.