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FollowingA Wall Street veteran with ties to Musk joins Coinbase's board of directors
Coinbase announced on September 2 that it has appointed Anthony Armstrong to its board of directors and audit committee. Armstrong was described by Bloomberg as an ally of Elon Musk, a former Morgan Stanley banker, and most recently served as a member of Musk's companies, including xAI and X Corp. Chief Financial Officer.
Armstrong served as an adviser during Musk's acquisition of Twitter and was responsible for overseeing the finances of xAI and X after the merger of both companies. Before joining xAI, he worked as a banker at Morgan Stanley and advised during the acquisition of X, formerly Twitter's social media platform. Prior to this, Armstrong led the global technology M & A business at Morgan Stanley for nearly a decade.
Relationship with DOGE and new role at Coinbase
Armstrong also served in the Department of Government Efficiency (DOGE) during the current administration. DOGE was established under an executive order of January 20, 2025, when President Donald Trump renamed the U.S. Digital Services Bureau and created an interim organization that is scheduled to end on July 4, 2026. The agency's goals are to modernize federal information technology, increase productivity and reduce regulations and spending.
Coinbase pointed out in the announcement that Armstrong is not related to CEO Brian Armstrong. Given the fact that one of the most well-known listed companies in the cryptocurrency industry has the same surname, this clarification is likely deliberate. Armstrong joins the board as Coinbase continues to expand its institutional business landscape and strengthen interactions with regulators in Washington.
