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
- Robinhood Lists HYPE As Hyperliquid Flips Aster, Lighter In Perp DEX Volume
- Expert Warns More Crypto Bloodbath Ahead of CPI Data Tomorrow
- US President Promises Deal With China on Everything As ‘Trump Insider’ Begins To Close Bitcoin Shorts- Is A BTC Recovery Ahead?
- Just-In: Changpeng “CZ” Zhao Counters Peter Schiff, Says “Tokenizing Gold Is Not On-Chain Gold”
- $240 Million Hacked Crypto Exchange WazirX Reopens Deposits But Faces Community Backlash
- Ethereum Price Poised for Breakout as Wyckoff Re-Accumulation Meets BlackRock’s $110M Purchase
- BNB Price Forecast: Analysts Eye $1500 Ahead of Fresh Coinbase and Robinhood Listings
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
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.
