Coinbase Taps xAI CFO for Board Seat Amid Canada Expansion

Coinbase has added Anthony Armstrong, the former Chief Financial Officer of xAI and X, to its board of directors. This appointment comes as Coinbase expands into Canada, where it is launching regulated crypto derivatives trading through its CFTC-registered futures commission merchant, Coinbase Financial Markets.

Armstrong's experience spans nearly a decade at Morgan Stanley building the global technology M&A practice, followed by a stint as a Senior Advisor in the Executive Office of the President. He also served as CFO across Elon Musk's companies, including xAI, X.AI Corp., and X Corp.

Coinbase cited Armstrong's focus on efficient execution and doing more with less as the reason for his appointment, stating that these principles align directly with how the company operates internally.

The launch of crypto derivatives trading in Canada makes Coinbase the first major crypto-native platform to offer direct native crypto futures in the country. Eligible Canadian customers with at least $5 million in net financial assets can access 23 crypto perpetual and dated futures across Bitcoin, Ethereum, Solana, and other assets, alongside five commodity futures and the Coinbase 50 Index.