Coinbase’s product counsel for institutional products, Andrew Ridenour, has become the latest executive to part ways with the company.
After spending more than one and a half years at Coinbase, Ridenour has rejoined the US Commodity Futures Trading Commission (CFTC). Ridenour previously spent nine years with CFTC, working first as a senior trial attorney before moving to the Division of Market Oversight as special counsel. Ribeour now works as a senior counsel to CFTC chairman, Heath Tarbert.
Coinbase’s Institutional Product Counsel Returns to CFTC
On LinkedIn, Ridenour wrote:
I´m happy to be returning ‘home’ to the CFTC in Chairman Tarbert's office. Looking forward to an amazing time at the Commission. Special thanks to the Chairman for giving me the opportunity to re-enter government service.
Heath Tarbert was elected as the chairman of the CFTC on June 5, 2019, replacing Christopher Giancarlo – who served as the commission’s head from June 2014 until April 2019. Ridenour’s appointment was announced on July 18, 2019, alongside eight other key appointments.
In a statement, the CFTC chairman asserted that the new staff “are superb at what they do,” adding:
Together they bring diverse experience in financial services regulation, and I am thrilled to have each of them join my team. Behind any successful Chairman is an excellent staff, and the one we are assembling is best in class. The counsel and expertise of my team will be essential to our efforts to keep our derivatives markets vibrant and hold wrongdoers accountable.
Ridenour’s Exit Follows Numerous High Profile Departures in Recent Months
At the start of June, Coinbase announced the departure of its then-president and chief operating officer, Asiff Hirji. At the time, Coinbase co-founder and chief executive officer, Brian Armstrong stated that Hirji’s “experience and mentorship helped guide Coinbase through an important chapter in its history.”
The departure followed the exit of Coinbase chief technology officer, Balaji Srinivasan, during May. Srinivasan had joined the company through Coinbase’s acquisition of Earn.com.
During April, Coinbase’s institutional head Dan Romero announced his departure from the company following five years with the company. In a statement, Romero expressed that he was “as optimistic as ever about the potential of cryptocurrency and Coinbase.” The same month also saw Christine Sander, the company’s former-co-head of institutional sales, depart for Fidelity.