Coinbase and Grayscale, two of the biggest crypto companies, both saw the official drop this week. Coinbase Chief Legal Officer Paul Grewal and Grayscale Chief Financial Officer Edward McGee announced their departure hours.
Both are leaving for good after many years, and each company quickly named their successors. He did not mention any controversy.
Coinbase’s Chief Legal Officer Is Stepping Down After Six Years
Grewal was informed Coinbase on July 8 that he will leave as chief legal officer and secretary, effective July 31. He joined in 2020 from Facebook, where he served as a senior assistant. Before that, he spent more than five years as a federal judge.
In time, Grewal contributed take Coinbase public in April 2021. The Nasdaq direct listing made Coinbase the first major US crypto exchange to go public.
He then led his defense after the Securities and Exchange Commission (SEC) sued Coinbase in 2023. dismissed the case and segregation in early 2025, without any fines.
Grewal also backed Coinbase to Texas from Delaware and its push for federal crypto laws. He summed up the fight in his farewell speech.
“After helping take the company public, fighting the SEC and winning, moving us from Delaware to Texas, working to get GENIUS and soon CLARITY was enacted into law… he wrote Grewal.
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Molly Abraham, vice president of legal affairs, will serve as general counsel. Grewal also named Ryan VanGrack as vice chairman. Grewal will advise Coinbase until October and remain at his trusted company.
Grayscale CFO Exits After Seven Years
McGee stepped down as chief financial officer on July 2, ending seven years with the company’s Digital Currency Group. Grayscale he said he left for personal reasons and thanked him for his service.
His position led to changes in the industry. In August 2023, a federal appeals court ruled that the SEC had wrongly denied Grayscale’s request. This ruling led to the SEC’s approval of Bitcoin (BTC) exchange-traded funds (ETFs) in January 2024.
Grayscale changed its portfolio to Grayscale Bitcoin Trust (GBTC) in the same month. The fund had $26.5 billion at the time.
Its 1.5% fee is six times higher than BlackRock’s 0.25% iShares Bitcoin Trust cases. This difference has reduced the amount to about $10.5 billion by the end of March 2026.
McGee also supported the Grayscale’s private placement IPO in 2025, when the company suspended it.
Kathryn Masci and Daniel Plourde, both chief financial officers, will serve as co-chief co-chief officers. Masci also joins the board of managers and is chief financial officer and accountant.
Coinbase and Grayscale Exit Sign
All of these moves come as Washington moves toward clearer crypto regulations. The GENIUS Act became law in July 2025, where CLARITY Act still awaiting a full Senate vote.
By promoting from within, both companies demonstrated continuity rather than change of direction. The coming months will show how their new leaders handle the next phase.
A note Coinbase and Grayscale Managers Step Down After Massive Crypto Success appeared for the first time BeInCrypto.
