Share 
Coinbase is reshuffling several senior leadership roles as it expands deeper into stocks, derivatives and prediction markets.
The company said four senior leaders are being replaced or reassigned during its broader multi-asset push. Among the changes, chief people officer Lawrence Brock will leave that role on Aug. 17 and remain through Sept. 1 to transfer duties. Coinbase expects Dominique Baillet to succeed him, and Brock will then advise the company from Sept. 2 through Nov. 30 under an agreement signed July 23.
Coinbase is also changing leadership in legal and institutional roles. Paul Grewal plans to leave as chief legal officer and corporate secretary on July 31 after six years at the company. Molly Abraham is set to become general counsel and secretary, while Ryan VanGrack will take on a new role as Coinbase’s first vice chair and head of corporate affairs. Greg Tusar, co-head of Coinbase Institutional, has also moved into a policy-focused position.
The management changes come as Coinbase continues to describe its business as an “Everything Exchange,” combining crypto with equities, derivatives and event contracts on one platform. The company has already opened commission-free stock and ETF trading to eligible U.S. users, with 24-hour access on five weekdays.
Prediction markets are a notable part of that expansion. Coinbase reported that prediction markets reached more than $100 million in annualized revenue during March. In first-quarter results, the company also put annualized retail derivatives revenue above $200 million and said its crypto trading-volume market share was 8.6%.
The reshuffle follows a broader cost-cutting effort. Coinbase announced in May that it would eliminate about 700 positions, or 14% of its workforce, with estimated restructuring costs of $50 million to $60 million. CEO Brian Armstrong tied those layoffs to volatile crypto markets and productivity gains from artificial intelligence.
Market conditions have remained weak. A joint report from Coinbase Institutional and Glassnode said total crypto market capitalization excluding stablecoins contracted by about 12% in the second quarter, citing tighter liquidity, the U.S.–Iran conflict and weak ETF demand.
Coinbase shares traded at $158.50 on July 24, down 1.65% on the day. The company is scheduled to report second-quarter financial results after the market closes on July 30.
—
Source: As reported by crypto.news.
