Coinbase Acquires DeFi Protocol Opyn Leadership Team

BlockBeats News, July 11, according to a report by Blockworks, Coinbase has recently completed a talent acquisition, specifically acquiring Opyn CEO Andrew Leone and its Research Lead Joe Clark. Leone and Clark will now join the Onchain Markets team, which operates within Coinbase's institutional organization, focusing on validated pools and other on-chain market product development plans.

According to Coinbase's official statement, "The Opyn team has been committed to the DeFi field since the early days; they were the original developers of the first DeFi options protocol, the inventors of Power Perpetuals, and the team behind Squeeth. The team possesses deep on-chain technical expertise, a profound understanding of traditional market structures, and practical experience in building decentralized products from scratch, which is rare in the industry. The reason for choosing talent acquisition is because the company's operating model is 'build/acquire/partner/invest.' Each path depends on what we believe is the most impactful area — whether through technology, market influence, or talent."