Based on the stories from Coinbase, Jeff Horowitz the firm’s Chief compliance officer is about to half methods with the change
His exit is, nonetheless, not linked to the contentious and moot weblog put up by the firm’s CEO Brian Armstrong that surfaced final week. It began when some workers requested the firm to take a stance on social/political points like the Black Lives Matter motion, which prompted the assertion from the firm’s govt, the place Armstrong proclaimed an ‘apolitical’ non-activist stance. It is rumored this put up led to about 5% of the firm employees (60 workers) departing.
Prior to becoming a member of Coinbase, Horowitz had labored with a number of different companies, together with Citigroup, Goldman Sachs and Lehman Brothers. At the time of his rent to Coinbase, Horwitz labored for Pershing, a BNY Mellon subsidiary specializing in brokerage companies.
He was the first CCO at Coinbase – a place he has served since 2018. In the two years he has been with the firm, Horowitz has completed a number of milestones. His effort was instrumental in shaping the change’s anti-money laundering (AML) tips. In addition, he helped the firm obtain compliance with suggestions from the Financial Action Task Force.
Reports additionally element that he performed a important position in touchdown JPMorgan as a banking companion for the change. A spokesperson from Coinbase corroborated stories on Horowitz’s exit, saying,
“Since becoming a member of the firm in mid-2018, Jeff performed an lively position in serving to to form crypto and AML regulation with FATF, Financial Crimes Enforcement Network, Department of Treasury and regulators round the globe. We’re grateful for his service and want him the greatest in the future. While we conduct a seek for a new CCO, our Chief Legal Officer, Paul Grewal, will take over day-to-day accountability for our compliance packages, with assist from our compliance leads“.