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The inside story of the Coinbase crypto OGs and Wall Street guard power struggle

Quick Take

  • Coinbase, the San Francisco crypto exchange is making a pivot to its crypto roots
  • The firm plans to focus its institutional efforts on crypto funds and crypto native firms
  • As such, Jonathan Kellner — former CEO of Instinet — is no longer joining the firm
  • The move could help the exchange better compete with Binance
For many crypto enthusiasts, mid-2018 feels like a lifetime ago. In those heady days, crypto’s market capitalization stood at $300 billion; rumors swirled that bulge bracket investment banks such as Goldman Sachs were entering the market; and Intercontinental Exchange excitedly announced plans for Bakkt, lauded to be the New York Stock Exchange of crypto. Since then, the market […]

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