Crypto Startup MoonPay Appoints Former Coinbase Executive Mike Lempres to Its Board of Directors
Crypto startup MoonPay has announced the appointment of Mike Lempres, a former executive at Coinbase and Andreessen Horowitz (a16z), to its board of directors. Lempres will join MoonPay USA LLC’s board, a subsidiary of MoonPay Inc. This move comes as regulatory scrutiny in the United States continues to intensify.
Lempres previously served as Coinbase’s chief policy officer before leaving in 2019 to work at a16z as an executive in residence. He currently holds positions on the boards of Coinbase, Bitstamp, and Silvergate Bank.
Ivan Soto-Wright, co-founder and CEO of MoonPay, expressed excitement about Lempres joining the team, stating that his experience in navigating regulatory uncertainty and building successful businesses will be invaluable. Soto-Wright expects Lempres to contribute to a wide range of topics and initiatives.
MoonPay’s Focus and Valuation
When asked about MoonPay’s plans for an initial public offering (IPO), Soto-Wright clarified that their current focus is on establishing MoonPay as a prominent private company. There are no immediate plans for going public.
MoonPay was founded in 2018 and offers various crypto products and services, including an investment app, payment infrastructure, and an NFT platform. The company recently achieved a valuation of $3.4 billion after securing $555 million in Series A funding from investors like Tiger Global Management and Coatue.
In addition to Lempres, MoonPay’s board of directors includes Soto-Wright, Max Crown (chief finance and operating officer), and Theodora Vardis (managing partner at HODL.vc).
Hot Take: MoonPay Strengthens Regulatory Expertise with New Board Member
Crypto startup MoonPay has added former Coinbase executive Mike Lempres to its board of directors. This appointment comes at a time when regulatory scrutiny in the United States is increasing. Lempres brings valuable experience in navigating regulatory challenges and building successful businesses. MoonPay aims to leverage his expertise to address compliance and risk management issues, as well as contribute to various initiatives. The company’s focus remains on establishing itself as a private entity rather than pursuing an IPO. With its recent valuation of $3.4 billion, MoonPay is poised for further growth in the crypto industry.
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