Coinbase hires Fannie Mae exec Brian Brooks as chief legal officer

Coinbase has made yet another addition to its C-suite. The cryptocurrency trading platform has hired Brian Brooks, the former executive vice president, general counsel and corporate secretary of Fannie Mae, as its chief legal officer. The hiring is part of the company’s effort to expand its legal, compliance and government affairs teams. Mike Lempres, who […]

Coinbase has made yet another addition to its C-suite. The cryptocurrency trading platform has hired Brian Brooks, the former executive vice president, general counsel and corporate secretary of Fannie Mae, as its chief legal officer.

The hiring is part of the company’s effort to expand its legal, compliance and government affairs teams. Mike Lempres, who until now held the chief legal and risk officer title, will transition into the role of chief policy officer.

“From the time it was founded seven years ago, Coinbase has been a leading advocate for the adoption of cryptocurrency,” Coinbase CEO Brian Armstrong said in a statement. “We’ve engaged proactively with regulators as we built products and services that allow people to buy, sell and use cryptocurrency all over the world. In recent years, the industry expanded faster than we could have imagined with an explosion in customer demand and entrepreneurial activity pushing the capabilities of the ecosystem forward. As this trend continues, it is more important than ever that we contribute to a public policy and regulatory environment that fosters innovation while protecting investors.”

Brooks joined Fannie Mae in 2014; before that, he was the vice chairman of OneWest Bank and a managing partner at the law firm O’Melveny & Myers.

The news comes one day after Coinbase announced the hiring of Michael Li as VP of data. Li had spent the last seven years at LinkedIn, most recently as its head of analytics and data science.

Here’s an updated round-up of Coinbase’s other notable 2018 hires:

  • Michael Li, VP of data (September). Li was previously the head of analytics and data science at LinkedIn.
  • Tim Wagner, VP of engineering (July). Wagner was previously a general manager at Amazon Web Services.
  • Jeff Horowitz, chief compliance officer (July). Horowitz was the former global head of compliance at Pershing.
  • Jennifer Jones, chief accounting officer (July). Jones joined from EY, where she was a senior manager.
  • Alesia Haas, chief financial officer (April). Haas joined from New York-based alternative asset management firm Oz Management.
  • Balaji Srinivasan, chief technology officer (April). Srinivasan joined through the company’s acquisition of Earn.com, where he was CEO.
  • Rachael Horwitz, VP of communications (April). Horwitz was formerly a partner at Spark Capital.
  • Tariq Meyers, global head of belonging and inclusion (April). Meyers was formerly the head of diversity and inclusion at Lyft.
  • Emilie Choi, VP of corporate and business development (March). Choi joined from LinkedIn, where she was head of corporate development.

Coinbase now supports buying and selling Ethereum Classic

Coinbase has added a new buying option for its customers after the crypto exchange introduced Ethereum Classic to its collection. The addition was first announced in July but Coinbase took its time to implement its newest addition following criticism over the way it added Bitcoin Cash last year. Allegations of insider trading led the company to […]

Coinbase has added a new buying option for its customers after the crypto exchange introduced Ethereum Classic to its collection.

The addition was first announced in July but Coinbase took its time to implement its newest addition following criticism over the way it added Bitcoin Cash last year. Allegations of insider trading led the company to investigate the incident which saw service outages and wild price fluctuations for Bitcoin Cash right after its addition to the exchange. It later introduced a framework for adding new tokens.

Nonetheless, Ethereum Classic’s value spiked 20 percent on last month’s news. Today, though, it is down two percent over the last 24 hours, according to Coinmarketcap.com.

Coinbase has taken a conservative approach to adding more crypto. Today’s addition takes it to five tokens — Bitcoin, Ethereum, Litecoin and Bitcoin Cash are the others — but that’s likely to change this year. Last month, it announced it is “exploring” the addition of another five tokens while CTO Balaji Srinivasan hinted that the selection would grow further when I interviewed him at the recent TechCrunch blockchain event in Zug.

“We hear your requests, and are working hard to make more assets available to more customers around the world,” Dan Romero, who heads Coinbase’s consumer business, said in a blog post published today.

A note on Ethereum Classic — it was created in June 2016 following a major hack on The DAO, a fundraising vehicle for the project. In short: the Ethereum Foundation created a new version of Ethereum — known today as Ethereum — that rescued the lost funds, while those who opposed continued on with the original chain which was known as Ethereum Classic.

Note: The author owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.