The largest US-based cryptocurrency exchange, Coinbase, announced yet another high-profile hiring from the banking sector. The company added an acting member of Charles Schwab’s Board of Directors to its own Board.
Expansion Continues
San Francisco-based Coinbase, the largest cryptocurrency exchange in the U.S., has announced that Chris Dodds will be joining the company’s Board of Directors.
Dodds is currently an acting member of the Board of Directors of Charles Schwab Corporation – a California-based bank and brokerage firm, currently one of the largest ones in the United States.
The new director comes with broad experience in the field of financial services, currently serving as the Chairman of the Risk Committee. He’s also a senior advisor at private equity firm Cynosure Group.
In the official release, Brian Armstrong, co-founder and CEO of Coinbase, said:
His addition to the Coinbase board is part of our effort to expand our financial services capabilities as we head into this next chapter for the company and the cryptocurrency industry as a whole.
This is marks yet another key addition to the company’s expanding team. As Live Bitcoin News recently reported, Coinbase hired Michael Li, the former Head of Analytics at LinkedIn to serve as its VP of Data. Before that, the company made other important hires, welcoming members like Tim Wagner from Amazon Web Services, Brian Brooks – a former general counsel and corporate secretary of the Federal National Mortgage Association (Fannie Mae), and others alike.
Coinbase Worth $8 Billion
The company’s rapid expansion seems to be paying off, as it is purportedly finalizing a deal which would put a valuation of the cryptocurrency exchange at about $8 billion. Citing people familiar with the matter, Recode reports that the company is currently in talks with Tiger Globals for an investment of as much as $500 million.
According to the sources, $250 million of those funds will be added as new money while $250 million will go towards buying out existing investors.
What do you think of Coinbase’s rapid expansion? Don’t hesitate to let us know in the comments below!
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