Ex-SEC Director Quits Coinbase After Four Months
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Brett Redfearn, an ex-federal regulator who joined Coinbase as VP of Products and Capital Markets, has quit just after four months on the job, The Wall Street Journal has learned.

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A spokesman for Coinbase confirmed the resignation. While the reason behind the departure remains unclear, it comes after Coinbase shifted priorities away from crypto securities, sources familiar with the matter told WSJ.

"We appreciate his contributions and wish him the best in his future endeavors," a spokesman for Coinbase said.

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Prior to the SEC, Redfearn spent over 10 years at JP Morgan as Global Head of Market Structure, Algorithmic Trading, and Liquidity Products. Redfearn said he wanted to help build a market ecosystem that creates "new efficiencies and democratizes the investment process while being 100% compliant with our securities laws."

As iHodl earlier reported, Coinbase faced a class-action lawsuit over vague rules of a dogecoin-related contest. According to a complaint, filed by David Suski, he would not have invested $100 in the altcoin to participate in Coinbase's "Trade Doge, Win Doge" contest if the exchange had made it clear that the contest was free to enter. Suski claims the marketing firm hired by Coinbase intentionally used "false and misleading digital ad campaigns" to hide the possibility of free participation.

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