Skip to content

Opyn’s top minds defect to Coinbase in strategic shift toward onchain derivatives

2025-07-11 15:19:55

Opyn’s top minds defect to Coinbase in strategic shift toward onchain derivatives

Main Idea

Coinbase has hired Opyn's core leadership team, including CEO Andrew Leone and Head of Research Joe Clark, to leverage their expertise in DeFi derivatives, signaling a strategic move to enhance its onchain market capabilities.

Key Points

1. Coinbase announced the hiring of Opyn's CEO Andrew Leone and Head of Research Joe Clark on July 11, aiming to integrate their DeFi derivatives expertise.

2. The move is part of Coinbase's build-buy-partner-invest framework, focusing on acquiring niche talent rather than products or protocols.

3. Leone and Clark are recognized for pioneering DeFi innovations like Power Perpetuals and Squeeth, bringing both technical and compliance experience.

4. This marks Coinbase's sixth acquisition this year, following strategic hires from Deribit and Spindl, indicating a pattern of assembling specialized expertise.

5. The hiring reflects Coinbase's strategy to strengthen its position in the DeFi space by embedding DeFi-native thinkers, potentially leading to deeper liquidity and new products.

Description

Andrew Leone and Joe Clark built some of DeFi’s most groundbreaking derivatives. Now, they’re taking that expertise to Coinbase, and the implications for onchain markets could be massive. On July 11, crypto exchange Coinbase announced it had poached Opyn’s core leadership team, including CEO Andrew Leone and Head of Research Joe Clark, in a talent-focused acquisition that underscores its aggressive push into onchain finance. The move, framed by Coinbase as a way to accelerate its onchain markets...

>> go to origin page
Tags:
News acquisition Coinbase DeFi
$BTC
$117876.0
+4.11%
$IMX
$0.5242
+10.99%

Latest News