Coinbase Bolsters Board with Former Morgan Stanley Exec Anthony Armstrong

Coinbase has appointed Anthony Armstrong to its board of directors, expanding its board to 10 members. Armstrong is a former Morgan Stanley executive who also held senior roles at Elon Musk-led companies.

Armstrong spent about a decade in investment banking at Morgan Stanley and rose to vice chairman of the investment banking division. He later served as a senior adviser at DOGE, before serving as chief financial officer at xAI, X.AI, and social media company X.

Coinbase is pursuing its 'everything exchange' strategy, aiming to offer a broader range of financial products beyond digital-asset trading. The company has already launched a 24-hour trading service for about 4,000 U.S. stocks, and 88% of net revenue now comes from businesses other than spot Bitcoin trading.