Coinbase is overhauling its senior team amid ongoing efforts to expand from crypto trading into stocks, derivatives, and prediction markets. Four top executives are either moving roles or exiting the company after recent workforce cuts.
Chief People Officer Lawrence Brock is stepping down on August 17 but will remain with Coinbase until September 1 to transfer duties. Dominique Baillet is set to replace him, taking charge of hiring and workplace operations during this critical growth phase.
Brock will also provide advisory support through November 30, receiving three months’ salary after this period along with continued vesting of restricted stock units. No official reason was given for his departure in the regulatory filing.
Other executive shifts include Greg Tusar, formerly co-head of Coinbase Institutional, moving to a policy role after focusing on prime brokerage, custody, and financing products. Paul Grewal, the chief legal officer, will leave on July 31 after six years. Molly Abraham will take over as general counsel, with Ryan VanGrack becoming vice chair and head of corporate affairs.
Grewal will stay on as an adviser and board member of Coinbase’s trust company, playing a key role in navigating SEC regulatory challenges and advocating for crypto legislation.
These leadership changes follow a significant workforce cut of roughly 700 employees in May, equal to 14% of Coinbase’s staff. CEO Brian Armstrong cited volatile crypto markets and AI-driven productivity improvements as reasons for streamlining. The company also aims to flatten management layers and reconfigure teams so fewer employees manage complex tasks.
At the same time, Coinbase is stepping up its push into stocks and prediction markets to diversify beyond crypto amid challenging market conditions. The company expects these new products to contribute more as crypto demand softens.
At its Base network, Jesse Pollak has also stepped back from his consumer app leadership position, signaling wider shifts in strategy.
