Vishal Guptathe former Senior Director of Product Management Coinbase Global Inc. COINis leaving the digital asset trading platform to work on a new project in the cryptocurrency space.

What happened: The focus of Gupta’s new project remains unclear, after to a Bloomberg report citing a person familiar with the matter. However, the anonymous source confirmed that Gupta will remain in the cryptocurrency industry.

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While at Coinbase, Gupta played a significant role in the development of key exchange products.

Prior to that, he worked at Circle Internet Financial, where he was responsible for launching the company’s flagship stablecoin USD coin USDC/USD.

Gupta also spent eight years at Goldman Sachs Group Inc. GS as Vice President and Head of US Listed Options.

Coinbase, the largest crypto exchange in the US, is facing increasing regulatory scrutiny as regulators tighten scrutiny of the digital asset industry.

Recently, the Securities and Exchange Commission, or SEC, reported plans to launch an enforcement action against Coinbase in connection with an undefined segment of its publicly traded digital assets and staking service Earn Coinbase And Coinbase wallet. Despite this, Coinbase maintains that its products and services are legal and welcomes “a legal process to provide the clarity we have advocated.”

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