Former Coinbase Legal Exec Lempres Joins Silvergate Capital as Chairman

Michael Lempres, the former chief legal executive at cryptocurrency exchange Coinbase (NASDAQ: COIN), has joined Silvergate Capital (NYSE: SI) as chairman.

• Lempres takes over from Dennis Frank, who had served as Silvergate’s chairman since 1996, the lender said Tuesday.
• Prior to joining Silvergate, Lempres held the position of executive in residence at venture capital firm Andreessen Horowitz. He was the chief legal and risk officer of Coinbase and senior attorney at Silicon Valley Bank.
• Silvergate Capital also appointed Aanchal Gupta to its board of directors and to the board of its Silvergate Bank subsidiary.
• Gupta has managed security risks at several companies, including Microsoft, Facebook and Yahoo.
• Gupta is now vice president of Azure, Microsoft’s cloud-computing platform, where she is in charge of responses to security incidents and building cloud security products, Silvergate said.

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