© Reuters. Brett Redfearn, director of commerce and markets for the Securities and Exchange Commission, speaks at Sandler O’Neill + Partners’ global stock exchange and broker conference in New York
(Reuters) – US cryptocurrency exchange Coinbase Global Inc named Brett Redfearn, a former director of the US Securities and Exchange Commission (SEC), as vice president of the capital markets division ahead of its planned listing on Tuesday.
Redfearn was most recently director of the US SEC’s Commerce and Markets division and previously spent 13 years with JPMorgan Chase & Co (NYSE :).
Coinbase was recently valued at $ 68 billion in a private market transaction, roughly 53 times its sales in 2020. A private fundraiser in October 2018 estimated the value at over $ 8 billion.
The company had submitted confidential documents to the regulatory authorities in December in order to go public via a direct listing.
In a similar move, former SEC chief Jay Clayton was named non-executive chairman of asset manager Apollo Global Management (NYSE 🙂 Inc. last week. This week he was also appointed to an advisory board for cryptocurrency company One River Digital Asset Management.
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