Crypto Leaders Exit as Big Vote Looms

Paul Grewal – Former Coinbase Chief Legal Officer

• Departure: July 8, effective July 31
• Career Highlights:
• Former federal judge and Facebook executive
• Guided Coinbase through its Nasdaq debut (2021)
• Led defense in SEC lawsuit (2023), case dismissed with prejudice, no fine
• Advocated for move from Delaware to Texas and federal crypto rules

“This is a victory lap; it’s time for new adventures.” – Grewal

Next Steps:

• Molly Abraham (VP of Legal) → General Counsel
• Grewal remains as adviser until October

Edward McGee – Former Grayscale CFO

• Departure: July 8, effective July 2 (announced hours after Grewal)
• Career Highlights:
• Oversaw landmark SEC ruling enabling spot Bitcoin ETFs (2024)
• Managed conversion of flagship fund; assets fell from ~$26.5B to $8–10B due to high fees
• Supported confidential IPO filing (now paused by SEC quiet period)

Interim Leadership: Kathryn Masci & Daniel Plourde

Questions Raised

• Are leaders stepping away because the battle is won, or to brace for a tough legislative outcome?
• Senators push for immediate CLARITY Act floor vote, underscoring the industry’s future hinge on this decision.