Coinbase Retracted Job Offers to Recruits From Some of Wall Street's Biggest Banks

Individuals from at least 10 of the biggest financial firms left Wall Street to join Coinbase Global Inc. only to have the company rescind their employment offers.

Goldman Sachs Group Inc., Morgan Stanley, BlackRock Inc., Wells Fargo & Co. and Citigroup Inc. were among the firms that people departed to join Coinbase, according to a talent directory posted by the company. They’re part of a group who last week received an email from the largest US cryptocurrency exchange rescinding offers and announcing a freeze on hiring for the “foreseeable future.”