Coinbase’s latest executive shuffle is a bit brutal

It cut 14% in May, and now it’s the executives’ turn.
Chief Legal Officer Paul Grewal is leaving
After six years on the job, he will formally step down on July 31. Corporate Counsel Vice President Molly Abraham will take over as General Counsel.
Chief Human Resources Officer Lawrence Brock steps down
Effective August 17, the transition will be completed by September 1. His successor is Dominique Baillet.
Institutional division co-CEO Greg Tusar is reassigned
Moving from Head of Institutional Business to a policy role.
Base head Jesse Pollak moves to a back seat
He himself admits that his bet on the social ecosystem “completely failed”—Farcaster, Zora, creator tokens, and these directions all didn’t take off.
Product leadership of Base App is handed back to Coinbase, with Jordan Fish (Cobie) taking over.
After the 14% layoffs in May, almost the entire executive layer has been replaced. Organizational reshuffling in the bear market is still ongoing.