Nana Murugesan, ex-Coinbase executive, joins Matter Labs as president, to enhance scaling of marketing, legal, and policy operations.
Nana Murugesan, former vice president of international and business development at Coinbase, has been appointed president of Matter Labs and the developer of zkSync.
Matter Labs’s chief executive officer, Alex Gluchowski, remarked, “It’s going to be like we brought Matter Labs from zero to one, and Nana’s job is to bring it from one to 10 and 200 to 1,000.”
Nana Murugesan joins Matter Labs
Bloomberg has reported that Nana Murugesan has decided to join Matter Labs, a company that scales Ethereum with zero-knowledge proofs to promote crypto adoption.
This is a significant personnel change in the cryptocurrency market. On behalf of Coinbase Global, Murugesan oversaw the cryptocurrency exchange’s international expansion efforts.
As Matter Labs’s inaugural president, Nana Murugesan intends to steer and propel the blockchain company to tremendous success. “I’ve always desired to play this role of a founder complement, to truly assist a company in scaling to the next level, which is possible for smaller companies in their early stages,” he explained.
He will be responsible for a team of sixty individuals and a significant employment initiative for Matter Labs in the upcoming months. The organization is expanding its marketing, legal, and policy departments in response to the increasing demand and employment opportunities in the cryptocurrency industry.
Andreessen Horowitz, the industry’s greatest venture capital firm, was involved in hiring. Both Andreessen Horowitz and Matter Labs are companies in which he has invested.
He oversaw the largest cryptocurrency exchange in the United States expansion into Europe and established asset listings and business partnerships before his November departure from Coinbase. Murugesan stated that he will maintain his advisory role at Coinbase until July 2024 to complete his board duties and ensure a smooth transition.
Matter Labs Make Major Moves
The company has consistently disclosed significant developments since its inception, encompassing fundraising efforts and forming fresh partnerships. In Series C funding, which was co-led by Blockchain Capital, Dragonfly, and Lightspeed Venture Partners, Matter Labs acquired $200 million.
Circle increased the accessibility of USDC by integrating zkSync last week, thereby improving the scalability of Ethereum-based transactions. A vast array of applications and DeFi protocols will gain from the integration’s stable foundation, facilitating payments, trading, and other financial services.
