Dan Romero departs Coinbase, completing exodus of institutional arm

Coinbase's head of institutional Dan Romero has announced he is leaving Coinbase this month after five years at the firm, posting the news Friday.

The firm has made no secret that it has shifted away from its Wall Street focus, reinforced by the recent departures of Christine Sandler and Adam White - the institutional team's beating hearts. But at the time, Romero told The Block that Coinbase still has a long-term interest in working with Wall Street and would keep growing its institutional business. His own exit today sheds doubt on that ethos and hints that the firm is now decisively focusing on crypto native firms and the international retail market.

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