A C-level officer at Coinbase is leaving the exchange platform, as reported by Bloomberg.
After serving the San Francisco-based cryptocurrency exchange Coinbase for more than one year as a chief Policy Officer, Michael Lempres is moving out of the firm. It is speculated that he will be joining Andreessen Horowitz, a venture capital firm, which was one of a leading investor in Coinbase.
Lempres, in terms of a Chief Legal Officer, was a prominent reason behind the current position of Coinbase which is the largest exchange in the US. He hugely contributed to the growth of the firm. His function in the exchange platform was mainly to provide legal operations. He has also been serving as a policy head in Coinbase.
Coinbase gave a response to this while admiring the officer, “As chief legal and risk officer during a time of tremendous growth for Coinbase, Mike was instrumental in building the company’s legal and compliance functions and driving our vision of trust through compliance… We wish him the best in his new position with Andreessen Horowitz.”
Michael Lempres was quite experienced at dealing with new or challenging regulatory environments and international issues. Additionally, he has worked in several cryptocurrency and fintech projects, such as Bitnet Technologies, SVB Financial Group Ltd. and Coinbase.
With that, he had expertise in corporate governance and successful management in team leadership. Also, he possesses a deep understanding regarding public and private companies, especially fintech startups.
Notably, the tasks of chief policy officer include negotiations with the global regulators. Lempres is vacating the position when the interface and communication between Washington and the digital assets sector have come to a very crucial point. In this scenario, Coinbase has hired Brian Brooks, moving Lempres’s duties and functions to him. Brooks now sits in the chair of the Legal department’s head.
Remarkably, Coinbase is a widely spread massive cryptocurrency based in the US, having worldwide transactions over 190 countries.