• Vishal Gupta, Coinbase’s head of exchange, is reportedly leaving the company to work on a new project in the crypto space.
• Gupta was previously the head of USD Coin for stablecoin issuer Circle before joining Coinbase.
• Coinbase has become the subject of increased regulatory scrutiny as watchdogs step up their crypto policing efforts.
Vishal Gupta Departing Coinbase
Vishal Gupta, Coinbase’s head of exchange, is reportedly leaving the company. Bloomberg reports that Gupta, a Goldman Sachs veteran who was most recently Coinbase’s senior director of product management, is departing the firm to start work on a new project in the crypto space. According to someone familiar with the matter, the focus of Gupta’s latest effort is unclear but he reportedly remains in the crypto space.
Gupta’s Career at Coinbase
Gupta took to Twitter to share his news and wrote: “After an amazing 2.5 years at @Coinbase, I’ve decided it’s time for me to move on.“ He added: „I’m particularly fond of the experience of launching $USDC with this team while I was at @Circle It was a privilege to help launch and grow the stablecoin that has become an industry standard.“ Before joining Coinbase, Vishal Gupta was leading USD Coin for stablecoin issuer Circle.
Coinbase Under Regulatory Scrutiny
The largest crypto exchange in US has become subject to increased regulatory scrutiny as watchdogs step up their crypto policing efforts. Coinbase was recently served with a Wells Notice from United States Securities and Exchange Commission (SEC), which signals enforcement action plans against them due to its listed digital assets, staking service Coinbase Earn, Prime and Wallet services. The company responded calling SEC’s approach “unfair and unreasonable“. They further said they welcome opportunity for clarity in court if necessary adding rulemaking and legislation are better tools for defining law than enforcement actions alone.
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