Coinbase Appoints Former xAI CFO Anthony Armstrong to Board Amid TradFi Pivot

Coinbase has officially appointed Anthony Armstrong, the former CFO of Elon Musk's xAI and X Corp, to its board of directors. The appointment expands the company's board from nine to 10 members and places Armstrong on the Audit and Compliance Committee. Beyond his recent tenure at Musk's firms and as a senior advisor at the Department of Government Efficiency (DOGE), Armstrong spent nearly a decade at Morgan Stanley serving as vice chairman of investment banking. The exchange is actively positioning itself as an "everything exchange," recently launching 24/5 trading for nearly 4,000 U.S. stocks to eligible UK users. Coinbase reported that 88% of its net revenue is now derived from sources outside of spot bitcoin trading, a critical diversification effort as its stock remains down more than 40% over the past year. "Anthony has had a consistent focus on building things that work at scale, without waste. Efficient execution is one of our core operating principles, and Anthony has lived that standard across some of the most demanding environments in finance, government, and technology." — Coinbase