Crypto Platform Matrixport Hires Big-name Coinbase Exec To Build US Business

Blockworks exclusive: Anthony DeMartino, former head of risk strategies at Coinbase, has joined Matrixport, the company confirmed today

article-image

ANTHONY DEMARTINO, MATRIXPORT | SOURCE: ANTHONY DEMARTINO / LINKEDIN

share

key takeaways

  • The splashy appointment comes as a number of crypto companies are cutting staff in an effort to maintain their margins in a turbulent market
  • One source dubbed his departure a “big blow” for Coinbase

Matrixport has landed a prized former Coinbase executive to lead the cryptocurrency investment platform’s US business, according to two sources familiar with the matter. 

Anthony DeMartino, a Wall Street veteran, was most recently head of risk strategies, institutional decentralized finance and derivatives trading at Coinbase. The lengthy title, one source who has done business with the exchange said, indicates DeMartino’s departure deals a “big blow.”

Matrixport representatives confirmed the hire. A Coinbase spokesperson did not respond to multiple requests for comment. DeMartino declined to comment.

Cynthia Wu, Matrixport’s chief operating officer, told Blockworks that company executives are convinced DeMartino’s “experience, passion and style fits Matrixport very well.”

Having previously spent time at traditional finance institutions — including managing director-level positions overseeing aspects of emerging-market trading for Barclays and HSBC — DeMartino is known by industry participants to keep strict tabs on a deep rolodex of Wall Street contacts. 

That, sources said, was especially important to Coinbase’s yearslong push to develop something similar to a traditional prime brokerage — including lending, trading and clearing, as well as capital introduction. Though exchanges and other crypto financial firms have worked to develop such an all-in-one, plug-and-play product, most traders say it’s still a pipe dream, leading to a hodgepodge of different service providers based in different time zones investing in different corners of crypto markets.

Coinbase recently announced steep layoffs in response to a market downturn that has eroded once-lucrative trading fees. Although exchanges have tried for years to diversify their revenue streams to reduce reliance on such fees, results have been mixed. 

Matrixport, meanwhile, appears to still be on the hiring trail — an outlier in a crypto landscape where most layoffs are measured as better or worse than expected, but expected, nonetheless.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Flashnote Template (6).png

Research

Trading of the President's TRUMP memecoin sent the market capitalization to over $15B, resulting in all-time highs for Solana’s Real Economic Value, DEX volumes, and stablecoin supply. This event further validates Solana as the venue for high-throughput onchain activity, with Solana DEXs and DeFi applications as primary beneficiaries, while also signaling to further experimentation, utilization, and adoption of memecoins as legitimate financial instruments for speculation, crowdfunding, or capital formation. President Trump’s continued willingness to experiment in crypto reaffirms a highly-favorable political and regulatory climate for the industry.

article-image

Corresponding resolutions were introduced to “roll back the disastrous” rule requiring custodial brokers to report transactions

article-image

Donald Trump has slightly backed off from the ambitious tariff goals he touted on the campaign trail

article-image

Some have called it “a relief” that the task force will be led by the crypto-friendly Hester Peirce

article-image

By leveraging L1 validators for proofing and execution, native rollups remove the need for centralized sequencers and complex governance

article-image

The new task force shows that crypto’s officially entering a new era

article-image

After seven long years, ICOs could be back on the menu