Ex-Coinbase global expansion lead joins a16z-backed Matter Labs as president

Nana Murugesan, the ex-Coinbase executive responsible for international expansion, has joined Matter Labs as president to drive the growth of the zkSync technology.

A former executive at Coinbase Global, Nana Murugesan, who was responsible for spearheading the exchange’s global expansion initiatives, has joined Matter Labs, the developer of the zkSync technology, as the inaugural president. In an interview with Bloomberg, Murugesan expressed his eagerness to embrace the role of a founding partner, emphasizing his aspiration to propel a company to the next echelon of success.

“I’ve always wanted to take on this role of a founder complement, to really help a company scale to the next level, which with smaller companies in earlier stages, it’s possible to do.”

Nana Murugesan

Murugesan disclosed his plans to oversee a team of 60 employees and spearhead a significant recruitment campaign in the upcoming months, adding that the firm would also prioritize the expansion of its marketing, legal, and policy efforts.

Before joining Matter Labs, Murugesan held the position of vice president of international and business development at Coinbase, a role he assumed in January 2022. Prior to his tenure at Coinbase, Murugesan held various positions at Snap Inc., Samsung Electronics, and The Boston Consulting Group. In November 2023, Murugesan announced his departure from Coinbase after it became known that the exchange opted to continue operations within the European Union through its base in Ireland.

Matter Labs recently secured a $200 million funding round in November 2022, elevating its valuation to an estimated range of $800 million to $1.2 billion, according to estimates by Dealroom. The project was backed by a pool of investors, including a16z, Blockchain Capital, Dragonfly Capital, and Lightspeed Venture Partners.