Coinbase Makes 4 New Appointments to Bolster European Expansion

Cryptocurrency exchange Coinbase (COIN) has made four new appointments to its European team to help further its expansion across the continent.

The exchange has hired Michael Schroeder as director of controls for Germany and Cormac Dinan as country director for Ireland.

Schroeder was previously chief compliance and risk officer for crypto trading platform Bittrex. Dinan was Crypto.com's general manager for Ireland.

Coinbase has also promoted Elke Karskens to serve as country director for the U.K. and Patrick Elyas to be director of market expansion in the Europe, Middle East and Africa region.

The exchange plans to roll our new products, increase the number of customers and collaborate with policymakers and regulators across Europe. Coinbase said the EMEA region is "leading the charge" on building sensible regulation for the crypto industry, citing regulatory developments in the European Union, the U.K. and the United Arab Emirates.

Like most other large crypto firms, Coinbase has been tightening its belt with this year's downturn in the crypto market, which has been exacerbated by the collapse of rival exchange FTX this month. In June, Coinbase said it was laying off 1,100 employees, and then it laid off 60 more people from its recruiting and institutional onboarding teams earlier this month.

Read more: EU Delays Vote on MiCA Crypto Legislation Until February