Former SEC director Brett Redfearn leaves Coinbase after four months

Brett Redfearn, a luminary of the market structure world and former director at the Securities and Exchange Commission, has left his post at Coinbase after only four months with the cryptocurrency exchange.

The exit, which was first reported by The Wall Street Journal, was confirmed to The Block by a Coinbase spokeswoman. Coinbase announced in March that it hired Redfearn as its capital markets head. Redfearn left Coinbase in July.

"We appreciate his contributions and wish him the best in his future endeavors," a spokesman told The Block in an emailed statement. 

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Redfearn spent 3 years at the SEC between 2017 and 2020, leading the division that oversaw brokers and exchanges. Prior to joining the SEC, Redfearn held senior trading posts at JPMorgan and Bear Stearns. 

The Journal's report said that Redfearn left the firm after the exchange decided it would "shift its priorities away from digital-asset securities." A Coinbase spokesman said that the exchange is instead prioritizing decentralized finance.

At present, Coinbase lists only cryptocurrencies that it views as being non-securities. In 2018, the firm acquired broker-dealer Keystone Capital in a bid to potentially trade blockchain-based securities. It has yet to launch a service or product in that arena. 

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Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].