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Coinbase names ex-SEC director Brett Redfearn as head of Capital Markets

·1-min read
Brett Redfearn, Director of the Division of Trading and Markets for the Securities and Exchange Commission speaks at the Sandler O'Neill + Partners Global Exchange and Brokerage Conference in New York

(Reuters) - U.S. cryptocurrency exchange Coinbase Global Inc on Tuesday named Brett Redfearn, a former director of the U.S. Securities and Exchange Commission (SEC), as vice president of capital markets division ahead of its planned stock market listing.

Redfearn was most recently the director of the U.S. SEC's trading and markets division and spent 13 years at JPMorgan Chase & Co prior to that.

Coinbase was valued at $68 billion in a recent private market transaction, about 53 times its revenue in 2020. It was valued at over $8 billion in a private fundraise in October 2018.

The company had confidentially filed paperwork with regulators in December to go public through a direct listing.

In a similar move, former SEC Chief Jay Clayton was named non-executive chairman of asset manager Apollo Global Management Inc last week. He was also appointed to an advisory council of cryptocurrency firm One River Digital Asset Management this week.

(Reporting by Sohini Podder in Bengaluru; Editing by Vinay Dwivedi)