Coinbase International Business Development VP to Depart
The head of Coinbase’s international business development is set to leave the company as it increases its efforts to expand globally. Nana Murugesan, who has served as vice president for two years, announced his departure in a post on X. He will step down in the first quarter of next year but will continue in an advisory role until July to aid with the transition.
Murugesan expressed gratitude for his time at Coinbase and highlighted the privilege of building the foundation for growth across the globe. His departure comes at a crucial time as the company continues its international expansion plans.
Coinbase Expands Overseas Amid Regulatory Scrutiny
Amid regulatory scrutiny in the US, Coinbase initiated phase two of its international expansion blueprint under the “Go Broad, Go Deep” initiative. Murugesan revealed that the company was open to collaborating with finance ministries, central banks, and regulators from different countries to advocate for shared principles.
In line with its expansion plans, Coinbase also secured a full license to operate in Singapore, enabling it to expand its offerings related to Digital Payment Token, COIN, and broader crypto trading services.
Coinbase Faces Regulatory Troubles in the US
Despite its international expansion efforts, Coinbase remains under scrutiny by the US Securities and Exchange Commission (SEC). The SEC had charged Coinbase with trading in unregistered securities, including Solana (SOL), Cardano (ADA), and Polygon (MATIC). In response, Coinbase accused the SEC of regulatory overreach.
Hot Take: Departure of Key Leader Poses Challenges for Coinbase’s Global Expansion
The departure of Nana Murugesan from his role as vice president of international business and development at Coinbase raises concerns about the company’s ongoing global expansion efforts. With regulatory challenges in the US and ambitious plans for overseas growth, Coinbase will need to navigate these changes while ensuring a smooth transition in leadership to maintain its momentum in the international market.
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