As the cryptocurrency business is constantly growing, the exchanges have started making huge moves to make their presence known. As Binance, the largest crypto-exchange in the world is currently facing a downtrend, other exchanges find it as the golden opportunity to take over its spot.
When it comes to overtaking the position of Binance, there is no other cryptocurrency exchange at present that could do it better than Coinbase. It is considered the largest cryptocurrency exchange after Binance and has been in the industry since 2013.
The exchange has been in the cryptocurrency business for a time longer than Binance. Therefore, it has more experience and understanding around how it needs to handle things both inside and outside the crypto-verse.
When it comes to Binance, the exchange kept expanding its product portfolio for the customers without being considerate about regulations it breached. This is what has led Binance to face one of the darkest hours throughout its operational tenure.
At present, the regulatory authorities are constantly scrutinizing Binance. In order to keep itself out of other regulatory authorities’ scrutiny, the exchange has started shedding off several products and services.
On the other hand, Coinbase is making the right kind of decisions in order to gain more ground and prominence in the cryptocurrency sector. This is the reason why the exchange has started making well-thought moves to make the best out of the situation.
Just recently, Coinbase has announced that Brett Redfearn has left their exchange. The reports suggest that Redfearn has left the exchange in almost five months of joining the exchange.
Before becoming part of Coinbase, Redfearn was the marketing and trading division’s director at the US Securities and Exchange Commission (SEC).
The reports have confirmed that Redfearn has resigned from his position at Coinbase as the head of the capital-markets group. The insiders have revealed that the reason behind his departure from Coinbase is the exchange’s change in priorities in the past few months.
In recent months, Coinbase has changed its business strategy and is now going after global recognition through public listing as well. This is the reason the exchange has brought changes to its priorities that were digital asset securities-based in the past. This is the reason why Redfearn decided to part ways from Coinbase and look further to other companies aiming to explore digital asset securities.
At Coinbase, the responsibilities Redfearn had included coming up with newer strategies surrounding digital asset securities as well as capital markets for cryptocurrencies.
Redfearn was not the only high-profile personality Coinbase has hired from the US Government sector in recent months. The exchange has been high-profile personalities who were formerly part of the regulatory sector at the US Government.