Coinbase Taps Opyn Leaders to Scale $2.9 Trillion Onchain Derivatives

- Hiring of Opyn CEO and research head to strengthen onchain trading and DeFi integration. - Leveraging Opyn's leading expertise to expand scalable onchain technologies. On July 11, 2025, The Block reported that Coinbase hired two key leaders from Opyn, a decentralized options trading protocol. The company brought in CEO Andrew Leone and Head of Research Joe Clark to bolster its onchain derivatives ambitions. This high-profile hire underscores Coinbase's commitment to advancing its decentralized finance (DeFi) capabilities and scaling its onchain trading operations. Opyn gained recognition for pioneering sophisticated DeFi products, including Power Perpetuals, which facilitate modular perpetual futures trading, and Squeeth, an innovative derivative tied to the square of Ethereum’s price. While Coinbase will not acquire Opyn’s specific protocols, it expects the leadership team’s technical acumen and innovative strategies will accelerate its efforts to transition more exchange functionalities onto blockchain technology. This move aligns with Coinbase’s broader strategy to enhance its Verified Pools feature, a cutting-edge onchain liquidity system that enables compliant trading activities. Verified Pools operate on Coinbase’s Base Layer 2 network, which unifies traditional financial systems with the dynamic DeFi ecosystem. By tapping into Opyn's industry expertise, Coinbase aims to push the boundaries of secure, scalable, and compliant onchain trading solutions. This strategic hire aligns with Coinbase’s ongoing strategy to harness pioneering DeFi innovations to connect global markets within the rapidly evolving, $2.9 trillion blockchain-driven sector.