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Kathryn Haun Steps Down from Coinbase Board
Kathryn Haun, a former Assistant U.S. Attorney and partner at Andreesen-Horowitz, has announced plans to step down from Coinbase’s board. Haun has been a board member of Coinbase for the past seven years and has played a crucial role in the company’s growth and success.
Haun’s Future Plans
In a post on X, Haun expressed her confidence in Coinbase’s future prospects, stating that the company is well-positioned to continue thriving in the evolving crypto landscape. However, she also acknowledged the remarkable expansion of the cryptocurrency industry and revealed her intention to focus more on venture investing through her company, Haun Ventures.
- Haun Ventures is expanding
- Focus on supporting founders
- Building a lasting venture franchise
Community Reaction
Haun’s departure has garnered recognition and appreciation from the crypto community. Brian Armstrong, the CEO of Coinbase, lauded Haun as a “force of nature” who took a chance on Coinbase and played a pivotal role in the company’s journey to becoming a publicly traded entity.
Paul Grewal, Chief Legal Officer at Coinbase, also applauded Haun as the “ultimate weapon in the board room that any CLO would want.”
Impact on Coinbase and Industry
The resignation will officially take effect at Coinbase’s upcoming Annual Meeting of Shareholders, which is scheduled for later this summer. The board anticipates a reduction in its overall size, shrinking to seven members following Haun’s departure. The change also marks the loss of one of the two women currently serving as board directors, underlining the ongoing need for greater diversity and representation within the cryptocurrency industry.
Regulatory Updates and Price Target Increase
KBW Increases Coinbase Price Target to $230
Earlier this month, investment banking firm KBW increased its price target for Coinbase to $230, recognizing the company’s long-term growth potential in the crypto economy.
- KBW raised Coinbase price target from $160 to $230
- Maintained market performance rating
Regulatory Challenges
Coinbase has faced regulatory challenges, with a recent ruling by Judge Katherine Polk Failla allowing the SEC’s lawsuit against Coinbase to proceed. The lawsuit alleges that Coinbase operates as an unregistered securities exchange, broker, and clearing agency.
In her ruling, Judge Failla declared that the SEC’s lawsuit against Coinbase held “plausible” ground, highlighting the regulatory scrutiny faced by the company.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
