Ex-Coinbase Lawyers Get Gigs After Crypto-Related Layoffs, Exits

Coinbase Global Inc.’s former lawyers are landing key legal posts after the biggest US digital-asset trading platform cut staff and prepared for a possible lawsuit from regulators.

Richard “Rick” Estacio, who was on paternity leave when he was among two dozen legal and compliance staffers laid off at Coinbase, said he joined Reddit Inc. on Monday. He’s among “good people previously with Coinbase legal landing in great spots,” he said in an email.

Sumeet Chugani, a former associate general counsel for product at Coinbase, as of May 1 became legal and compliance chief for Cloaked Inc., a privacy app, he said in an email. Hector Ivan Velez, Coinbase’s former associate general counsel for capital markets, has joined Flow Carbon Inc., a carbon-credit cryptocurrency startup backed by WeWork Inc. co-founder Adam Neumann, Velez said in a LinkedIn post last week.

Source: Ex-Coinbase Lawyers Get Gigs After Crypto-Related Layoffs, Exits