Coinbase Poaches Facebook’s Top Lawyer Paul Grewal

Coinbase, a leading US-based crypto Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, has hired Paul Grewal, one of Facebook’s top in-house lawyers, as its new chief legal officer.

Grewal spent the last four years at the Menlo Park-headquartered social media company as deputy general counsel and vice president at Facebook, overseeing its regulatory affairs, litigation, and commercial matters.

He is also a former federal magistrate judge. Coinbase highlighted his role in two landmark tech lawsuits - Apple v. Samsung and Oracle v. Google.

“Paul’s mix of experience in private practice, as a federal judge, and as a leading in-house lawyer makes him a phenomenal addition to Coinbase,” Coinbase stated in a formal press release.

A key position with the exchange's expansion ambitions

Grewal is replacing Brian Brooks at Coinbase who decided to leave the crypto exchange in March to join the Office of the Comptroller of the Currency (OCC). Brooks was also named the acting head of the OCC in May.

His exit also grabbed headlines as he liquidated $4.6 million in Coinbase stock options.

The appointment came when Coinbase is strengthening its legal team, which lost pace following Brooks’ exit.

The exchange detailed that Grewal will oversee all legal functions of the global business and will manage the continuing growth of our best-in-class legal team.

He will also lead the team’s continuing work to partner with financial services regulators, contribute to the development and rollout of innovative, regulated products and services, and support the company’s global growth and regulatory strategy, the exchange detailed.

“I came to understand the vision for an open financial system for the world. And I got to see just how talented and committed the entire Coinbase team is in making that vision a reality. I decided then and there that I just have to be a part of this,” Grewal said about his new position.