Coinbase Bolsters Board with xAI Vet Anthony Armstrong

Coinbase has expanded its board of directors to ten members, with the addition of Anthony Armstrong. The former CFO at xAI and X will serve on both the Audit and Compliance Committee. With nearly a decade of investment-banking experience under his belt, Armstrong joins from Morgan Stanley where he held the position of vice chairman of investment banking.

Armstrong has also worked as a senior advisor for DOGE and most recently served as CFO across xAI, X.AI Corp., and X Corp. Coinbase praised his ability to 'build things that work at scale without waste,' aligning with their core operating principle of efficient execution.

The appointment comes amid Coinbase's push to become the 'everything exchange.' The firm has been diversifying its services beyond strictly crypto trading, recently rolling out access to nearly 4,000 U.S. stocks for eligible UK users with 24/5 trading. In its most recent quarterly report, Coinbase stated that 88% of its net revenue now comes from sources other than bitcoin spot trading.