Ex-Coinbase Exec Nana Murugesan Joins zkSync Developer Matter Labs As President

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Nana Murugesan, who previously held the position of Vice President of International and Business Development at Coinbase, has taken on the role of President at Matter Labs – the company behind the development of zkSync.

Alex Gluchowski, CEO of Matter Labs, stated that “Nana’s role will be instrumental in taking Matter Labs from its current stage to significant growth, transforming it from a small company into a large and thriving business.”

Nana Murugesan Joins a16z-Backed Matter Labs

In an notable move within the crypto industry according to Bloomberg’s report, Nana Murugesan has announced his decision to join Matter Labs. This company is working to expand Ethereum using zero-knowledge proofs with the aim of increasing cryptocurrency adoption. Previously, Murugesan was responsible for Coinbase Global’s international expansion initiatives.

Nana Murugesan is set to become the inaugural president of Matter Labs, eager to steer and grow this blockchain business into great achievements. “I’ve had a long-standing desire to assume the position of a co-founder and contribute significantly to a company’s expansion,” he shared. “Especially in the early stages of smaller companies, the opportunity to make a significant impact is quite feasible.”

In the upcoming months, Matter Labs will see a significant expansion of its marketing, legal, and policy teams, with the leader overseeing a team of sixty employees. This growth is driven by increasing demand and new job opportunities in the crypto industry. Andreasen Horowitz, a prominent venture capital firm in the crypto sector, has been instrumental in the recruitment process. They have previously invested in both Coinbase and Matter Labs.

Murugesan left Coinbase in November and has since then worked on broadening its presence in Europe, overseeing new asset listings, and forming business alliances for the leading US cryptocurrency exchange. He will remain as an advisor at Coinbase until July 2024 to ensure a smooth handover and complete any pending board duties.

Matter Labs Makes Major Moves

Since its debut, the company has consistently shared significant advancements. They recently secured a $200 million investment in their Series C funding, which was jointly spearheaded by Blockchain Capital, Dragonfly, and Lightspeed Venture Partners.

Last week, Circle improved the accessibility of USDC by integrating it with zkSync on Ethereum. This move enhances the network’s capacity to handle transactions, providing a better user experience for various applications and DeFi protocols. The integration allows for smoother payments, trading, and financial services operations.

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2024-04-18 11:47