Coinbase Makes Four New Appointments to Bolster European Expansion

Cryptocurrency exchange Coinbase (COIN) has made four new appointments to its European team to help further its expansion across the continent.

The exchange has hired Michael Schroeder and Cormac Dinan as its new director of controls for Germany and country director for Ireland respectively.

Schroeder was previously chief compliance and risk officer for crypto trading platform Bittrex. Dinan meanwhile was's general manager for Ireland.

Coinbase has also promoted Elke Karskens and Patrick Elyas to serve as the firm's country director for the U.K. and director of Europe, Middle East and Africa (EMEA) market expansion respectively.

The exchange plans to roll our new products, grow its number of customers, and collaborate with policymakers and regulators across Europe. Coinbase said the EMEA region is "leading the charge" on building sensible regulation for the crypto industry, citing regulatory developments in the European Union (EU), the U.K. and the U.A.E.

Like most other large crypto firms, Coinbase has had to tighten its belt somewhat in recent months, following the downturn in the crypto market earlier this year, exacerbated by the recent collapse of fellow exchange FTX. Having said in June it was laying off 1,100 employees, Coinbase laid off a further 60 people from its recruiting and institutional onboarding teams earlier this month.

Read more: EU Delays Vote on MiCA Crypto Legislation Until February