Coinbase’s Chief Policy Officer Is Leaving for a Major VC Firm

U.S.-based cryptocurrency exchange Coinbase is reportedly losing another senior executive.

According to a Bloomberg report Wednesday, its chief policy officer, Mike Lempres, is leaving the firm to take on a new role at venture capital firm Andreessen Horowitz.

“As chief legal and risk officer during a time of tremendous growth for Coinbase, Mike was instrumental in building the company’s legal and compliance functions and driving our vision of trust through compliance. We wish him the best in his new position with Andreessen Horowitz,” Coinbase was quoted as saying.

Coinbase has seen a couple of notable departures in recent weeks. In late October, former head of trading Hunter Merghart left just after six months on the job.

Adam White, one of the most senior executives and fifth-ever employee at Coinbase also left the same month. He had been vice president and general manager of Coinbase Institutional.

There have been hirings too. Back in September, Coinbase took on former Fannie Mae executive Brian Brooks as its new chief legal officer.

To recruit and retain diverse talent, the exchange has this year taken the unusual and expensive step of offering  cover of up to $5,000 a year for perks like egg-freezing, over and above its existing health insurance options.

Coinbase image via CoinDesk archive