Coinbase Chief Compliance Officer Departs Amid Wider Exodus

Frail Coinbase CCO Jeff Horowitz (R) with Adam White and James Patchett
(CoinDesk archives)

Coinbase’s chief compliance officer (CCO), Jeff Horowitz, is leaving the firm after two years.

  • First reported by The Block, Horowitz joins at the least 60 lots of workers in leaving the replace – roughly 5% of the firm’s headcount.
  • The large majority of these departures near in accordance with Coinbase CEO Brian Armstrong now not too lengthy within the past declaring an “apolitical” non-activist stance against social points at the firm. It used to be now not straight certain if Horowitz is leaving for the identical cause.
  • The anxiousness began to bubble with some workers wanting a more public stance on points love Sunless Lives Subject early within the summertime. It at closing reached a degree when Armstrong urged other folks that didn’t agree alongside with his firm’s put to take a severance kit.
  • Horowitz joined Coinbase assist in 2018 because the firm’s first CCO, where he used to be charged with guiding the replace’s anti-money laundering policies and going by regulatory compliance.
  • He beforehand spent 12 years leading the compliance team at Pershing, a BNY Mellon firm, and furthermore regarded as one of many largest suppliers of brokerage custody.
  • At some stage in his occupation, Horowitz furthermore took efforts to form financial law within the U.S.alongside with his involvement in enterprise associations such because the Financial Crimes Enforcement Community and the Financial Commerce Regulatory Authority.
  • “We’re grateful for his provider and desire him the best within the lengthy flee,” a Coinbase spokesperson stated. “Whereas we conduct a look our recent CCO our chief noteworthy officer Paul Grewal will take over day-to-day accountability.”

Nikhilesh De contributed reporting.

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