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Coinbase Snags Top Tech Execs From Facebook, Amazon The rising wallet service's major new hires show that the business of Bitcoin is big enough to attract top tech talent.

By Kim Lachance Shandrow

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

In a move that shows that the skyrocketing business of Bitcoin is big enough to attract top tech talent, Coinbase has hired Facebook's former director of security Ryan McGeehan and Amazon's former director of business development Todd Edebohls.

The fast-rising San-Francisco-based global Bitcoin wallet and merchant service tapped the two elite internet executives to strengthen and broaden its security and business development initiatives.

"These hires represent Coinbase growth, momentum and commitment to security," a Coinbase spokesperson told Entrepreneur this afternoon. "And as an industry it shows Bitcoin is growing up, attracting top talent."

Related: Coinbase Nets $25 Million in Largest Ever Bitcoin Fundraise

Coinbase has also attracted some serious venture capital cash from heavy hitter investment firms. The popular Y Combinator-backed startup recently raised $25 million in Series B funding led by Andreessen Horowitz in what TechCrunch described as "the largest funding to date for a company focused on Bitcoin digital currency." The historic funding round brought the venture capital raised by Coinbase to $31 million total.

McGeehan announced his upcoming career transition to Coinbase on Facebook and Twitter, confirming that he will join the company in April.

According to his Facebook post, McGeehan will create Coinbase's security program.

Related: 50 Insane Facts About Bitcoin (Infographic)

Edebohls, former high-ranking executive at Amazon and more recently CEO of the online career community InsideJobs, is apparently keeping mum about his move to Coinbase on his social network accounts. He did, however, allude to his new position on his LinkedIn profile, adding the title of "VP" at "(to be announced)" as his latest position, with a start date of March 2014.

He will serve as Coinbase's new vice president of business development.

Coinbase, was founded less than two years ago in June 2012, has already passed the 1 million Bitcoin wallet download mark, which it reached in on Feb. 27. Blockchain is Coinbase's biggest competitor.
Kim Lachance Shandrow

Former West Coast Editor

Kim Lachance Shandrow is the former West Coast editor at Entrepreneur.com. Previously, she was a commerce columnist at Los Angeles CityBeat, a news producer at MSNBC and KNBC in Los Angeles and a frequent contributor to the Los Angeles Times. She has also written for Government Technology magazine, LA Yoga magazine, the Lowell Sun newspaper, HealthCentral.com, PsychCentral.com and the former U.S. Surgeon General, Dr. C. Everett Coop. Follow her on Twitter at @Lashandrow. You can also follow her on Facebook here

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