Former SEC Director Brett Redfearn Left Coinbase After 4 Months

Former SEC Director Brett Redfearn left crypto exchange Coinbase after 4 months of working at the crypto company giant so let’s find out more in our latest Coinbase news.

The departure of the Coinbase VP of capital markets shows there’s a strategy shift within the publicly traded exchange. Coinbase VP of Capital Markets Brett Redfearn who is also a former SEC director left Coinbase after four months on the job.
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The Wall Street Journal was the first to initially reported that Redfearn is leaving the Securities and Exchange Commission at the end of July.

The rift points to a strategy shift in the publicly traded crypto exchange as sources said, with Coinbase deciding to shift its priorities away from the digital-asset securities. The source with knowledge of the situation said that the shift reflected the growing consumer demand for access to decentralized finance while they are looking to prioritize Defi but ended up deprioritizing the digital asset securities area. The split with Redfearn came as actions in Washington cast doubt whether the tokenized stocks comply with the regulatory framework. Binance for example was hit hard for its securities product and discontinued the product in July.

Redfearn’s hire was announced in March a few weeks before Coinbase went public in its heavily anticiapted debut on the Nasdaq stock exchange.

As recently reported, The prices of coins surged across the board as the sentiment continues to skew in the positive, and investors seem to be pouring back into the market with the showing patterns that indicate more buy pressure trends that are higher than sell pressures. Accumulation patterns continue to show that the investors are hoarding the coins rather than selling them as the exchange reserves continue to crash. The more good news continued to shake the market as the crypto prices remained in an uptrend and now Coinbase added more options to buy crypto using Apple Pay. This method was unavailable to customers but Coinbase had said that users were able to use their crypto cards on Google Pay and Apple Pay. This was a welcome development and opened a new way that crypto enthusiasts will use their cards out in the world but there still has no other option to use Apple Pay and buy crypto until now.