Coinbase’s capital markets head reportedly leaves company

People familiar with the matter claimed Brett Redfearn’s departure was due to Coinbase shifting its priorities away from digital asset securities.

Brett Redfearn, the former director of the division of trading and markets at the United States Securities and Exchange Commission (SEC), has reportedly left his position at Coinbase after less than five months.

According to a Wall Street Journal report, Redfearn resigned as the head of Coinbase’s capital-markets group at the end of July. People familiar with the matter claimed his departure was due to the crypto exchange shifting its priorities away from digital asset securities.

During his time at Coinbase, Redfearn was responsible for the crypto exchange’s strategy for crypto capital markets, including digital asset securities. The U.S.-based crypto exchange has hired a number of individuals formerly involved with the government prior to and following its initial public offering in April.

Related: Coinbase CEO Brian Armstrong says proposed crypto tax rule makes no sense

Earlier this year, Coinbase announced that a former member of the White House National Security Council, Faryar Shirzad, would become the company’s chief policy officer. The firm also continued to expand its operations in India with the hiring of former Google Pay engineering lead Pankaj Gupta.

Cointelegraph reached out to Coinbase, but did not receive a response at the time of publication.