Marc Andreessen added as observer to Coinbase's board of directors

Crypto exchange company Coinbase revealed several updates to the composition of its board of directors on Monday.

Marc Andreessen, co-founder of venture capital giant Andreessen Horowitz, has joined as an observer. Gokul Rajaram, a DoorDash executive, is joining as a Series C board director. The changes were outlined in a morning blog post

The announcement also included two exits: long-time board observer and Coinbase investor Chris Dixon is departing, as is the board's existing Series C director, Barry Schuler.

"The company sincerely thanks both Chris and Barry for their past and continuing contributions to Coinbase and wishes them well as they share their knowledge and insight with the next generation of innovators, builders and technology pioneers. Both of them have been a major contributor to Coinbase’s success," the firm said in a statement.

Coinbase's board of directors is comprised of six members. Members include co-founders Brian Armstrong and Fred Ehrsam as well as former DOJ official Katie Haun, Charles Schawb board member Chris Dodds and Union Square ventures co-founder Fred Wilson.