CoinDesk reported that Coinbase Chief Legal Officer Paul Grewal and Grayscale Chief Financial Officer Edward McGee announced their resignations one after another this week, and rumors suggest that tighter crypto regulation may be the reason behind both executives’ departures. Both said they are stepping down for personal reasons and that they have a good relationship with the company. Grewal will officially leave on July 31, moving into an advisory role; he helped Coinbase successfully go public in 2021. McGee resigned on July 2, ending his seven-year tenure at Grayscale. The executive changes come as the crypto market’s total market cap rises 1%, with the current market cap reaching $2.25 trillion and the price of Bitcoin rebounding to $64,000.