Coinbase’s head of exchange and markets, Vishal Gupta, has left the crypto exchange following the company’s Wells notice from the SEC.
Crypto Executive Leaves Coinbase
In a tweet on April 10, 2023, Gupta announced his departure and his intention to build a new project. He had been with Coinbase for almost three years during which time assets expanded from 27 to 236 and the firm acquired FairX, later rebranded as Coinbase Derivatives Exchange. Prior to joining Coinbase, Gupta was vice president and head of US-listed options at Goldman Sachs and also led Circle’s USDC launch and growth.
I’m proud of the team we’ve created at @coinbaseexch. It’s been an honor to work alongside the exec team and I wanted to express my deep appreciation for the leadership opportunities @brian_armstrong, @surojit, @GregTusar, and others have provided me.
Gupta’s departure joins the growing list of executives leaving crypto companies amid a bear market. Argo Blockchain’s CFO and executive director, Alex Appleton and BitMEX’s CEO, Alexander Höptner, also recently resigned.
Coinbase and US Regulators
Coinbase has been under regulatory scrutiny in the US, with the SEC issuing a Wells notice accusing the firm of breaking securities laws, which Coinbase has denied. The US crypto exchange is reportedly looking to create a new platform for global clients.
