Coinbase leads a growing list of cryptomaniac companies that attract top legal talent
On Friday, Coinbase Inc. announced an appointment of Google’s former Senior Legal Director, Milana McCullagh, as general counsel for products and commercial legal matters.
McCullagh, who has worked for more than 13 years at Google, will work in various capacities at Coinbase in product legal support, helping the company to optimise legal compliance for new product launches.
McCullagh’s appointment is part of a Coinbase campaign to attract legal talent that began last year, as well as a wider movement of top-notch lawyers joining cryptomaniac firms.
Between August and October, Coinbase appointed former Dyson Ltd general counsel Katherine Minarik as assistant general counsel for litigation; former senior legal counsel at Uber Technologies Inc. in London, Carly Nuzbach Lowery as general counsel; former Fenwick Jade Clemons lawyer as commercial lawyer; and head of supervisory affairs for CLS Group Holdings AG, Janice Payne, as director of regulatory compliance.
Excess hiring may be part of Coinbase’s effort to contain the regulatory fears of potential investors on the eve of a possible IPO.
The San Francisco-based company spoke with law firms and investment banks about an IPO earlier this year.
In addition, these appointments coincide with the company’s recent decision to abbreviate „political“ and „social“ effects at work , which led to a request for 60 employees to package the exit packages provided by the company .
Main appointments in the cryptomime industry
Coinbase is not alone in its goal of bringing top-notch legal professionals to the cryptomime industry.
On October 8, blockchain-based O(1) Labs Operating Corp. announced the appointment of Goldman Sachs‘ former in-house counsel and Kirkland & Ellis LLP associate Sang Joon Kim as general counsel.
On October 7, the Gemini Trust Co. LLC appointed Andy Meehan, former chief legal officer of Morgan Stanley’s global financial crimes division, as director of compliance for the Asia Pacific region.
And last Wednesday, a venture capital firm Andreessen Horowitz announced the appointment of former New York Stock Exchange regulator Anthony Albanese to work on cryptomorphic religion issues.
These moves coincide with the US regulators‘ efforts to legalise the Bitcoin Loophole. Previously, the U.S. Department of Justice issued official guidelines for the cryptomime market and held it accountable.
Erich Dylus, Vedder Preço’s aviation finance lawyer during the day and member of legal engineering DAO LexDAO, told Cointelégrafo that the hiring could be a sign that the legal world is recognising the growing influence of cryptoactives:
„Some lawyers are discovering an exciting frontier that needs legal guidance – it shows the mature nature of cryptomorphs and the industries adjacent to cryptoactives“.