Ex-Coinbase Exec Nana Murugesan Joins zkSync Developer Matter Labs As President
Highlights
- Former Coinbase executive Nana Murugesan joins Matter Labs, the developer of zkSync, as president.
- Murugesan to manage a team of 60 employees and take charge of a major hiring effort by Matter Labs.
- Matter Labs continue to stride towards becoming a big success with zkSync technology.
Nana Murugesan, former VP of international & business development at Coinbase, has joined Matter Labs, the developer of zkSync, as president.
Alex Gluchowski, chief executive officer at Matter Labs, said “It’s going to be like we brought Matter Labs from zero to one, and Nana’s job is to bring it from one to 10 and 200 to 1,000.”
Nana Murugesan Joins a16z-Backed Matter Labs
In a significant personnel change in the crypto market reported by Bloomberg, Nana Murugesan has decided to join Matter Labs, a company scaling Ethereum with zero-knowledge proofs to push crypto adoption. Murugesan at Coinbase Global led the crypto exchange on international expansion endeavors.
Nana Murugesan will be the first president of Matter Labs, hoping to guide and drive the blockchain company into a big success. “I’ve always wanted to take on this role of a founder complement, to really help a company scale to the next level, which with smaller companies in earlier stages, it’s possible to do,” he said.
He will oversee a team of 60 employees and take charge of a major hiring effort by Matter Labs in the coming months. The company is scaling its marketing, legal, and policy operations amid growing demand and jobs in the crypto sphere. Crypto’s largest VC firm Andreessen Horowitz played an active role in the hiring process. Andreessen Horowitz has invested in both Coinbase and Matter Labs.
He departed from Coinbase in November, expanding the largest US crypto exchange’s expansion across Europe as well as establishing asset listings and business partnerships. Murugesan said he will continue to serve as an advisor at Coinbase until July 2024 to ensure a seamless transition and complete his board responsibilities.
Also Read: Bitcoin Price Falls As Bitcoin ETF Saw $165M Outflow, Bitwise Records First-Ever Outflow
Matter Labs Makes Major Moves
The company continues to announce major developments since its launch, from fundraising to new establishing new partnerships. Matter Labs raised $200 million in a Series C funding round co-led by Blockchain Capital, Dragonfly, and Lightspeed Venture Partners.
Last week, Circle boosted USDC accessibility with zkSync integration, enhancing scalability for Ethereum-based transactions. The integration will benefit a wide range of applications and DeFi protocols by facilitating payments, trading, and other financial services on a stable foundation.
Also Read: Binance Converts $1 Bln SAFU Assets Into USDC, Bolstering Stability
- VanEck Registers Lido Staked Ethereum Trust in Delaware, LDO Up 7%
- Fed’s Lorie Logan Urges Caution on Further Rate Cuts Citing Inflation Risks
- Nasdaq-Listed Fitell Adds Pump.fun’s PUMP To Supplement Solana Treasury
- FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading
- Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
