Nana Murugesan Leaves Coinbase
Nana Murugesan, Coinbase’s vice president of international and business development, is leaving the company as it continues to expand globally. In a post on X, Murugesan announced that he will leave the firm in the first quarter of next year but will stay on as an advisor until July. He mentioned that he had an incredible two years working with Brian, Emilie, and the team building the foundation for international growth.
News of Murugesan’s planned departure comes as Coinbase emphasizes international expansion while dealing with disputes with regulators in the U.S. The U.S. Securities and Exchange Commission sued Coinbase in June over alleged violations of securities laws.
International Expansion Drive
In September, Coinbase announced that it had entered the second phase of its “Go Broad, Go Deep” strategy for its overseas push. Just last month, Coinbase obtained a full license in Singapore, allowing the exchange to offer a wider range of Digital Payment Token services in the region.
In a September interview with The Block, Murugesan said that Coinbase hopes to work with finance ministries, central banks, and regulators to push for shared principles among nations. The goal is to achieve clarity and consensus on the regulation of crypto and web3.
A spokesperson for Coinbase confirmed Murugesan’s departure and mentioned that the company is doubling down on its international expansion plan after a year of significant momentum. They emphasized that decentralizing international operations will help them move faster and build local products for local markets.
Hot Take: Coinbase’s International Expansion
Coinbase’s expansion drive continues despite leadership changes. The company is focusing on building local products for various markets while working towards achieving consensus on global regulatory principles for crypto and web3. The departure of Nana Murugesan signals a new phase in Coinbase’s international growth strategy as they aim to navigate through regulatory challenges and establish a strong presence worldwide.
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