How Coinbase's Legal Team Pulled Off a Crypto Market Debut

Coinbase Chief Legal Officer Commends Fenwick for Advising on Novel Issues for New Technologies and Industries

Reuters talked to Coinbase chief legal officer Paul Grewal about the company’s pioneering direct listing on the Nasdaq Global Select Market and the legal team that pulled it off.

In the direct listing, Fenwick represented Coinbase, which made history as the first major crypto company to go public and the first technology company to go public through a direct listing on Nasdaq.

In discussing the listing, Grewal told Reuters, “We also have tremendous outside counsel at Fenwick & West, led by Mark Stevens.”

“Fenwick has been working for Coinbase for many years and certainly predate my tenure. Soon after I arrived, I came to understand that experience and frankly came to appreciate why they were the best choice for us through this S-1 process.

“I've only become more convinced that they really do offer superior advice and counsel to companies like ours, particularly on novel issues like a direct listing, or companies dealing in new technologies or industries like crypto,” Grewal continued.

He concluded by telling Reuters that “Fenwick really looks to find ways to align interests and really put their own skin in the game when they're working with clients like Coinbase.”

Fenwick has served as primary outside counsel to Coinbase for many years, representing the company in more than 15 acquisitions, including its strategic acquisitions of Bison Trails, Earn.com and Tagomi, its $100 million Series D and $300 million Series E financings and more than 70 investments by Coinbase Ventures.

The Fenwick transaction team on Coinbase’s direct listing – called a “watershed moment for cryptocurrency” by investors – included corporate partners Mark Stevens, Michael Brown, Ran Ben-Tzur and Faisal Rashid and associates Jennifer Hitchcock, Jordan Roberts, Can Sun, Annie Omata, Jacob Wittman, Sloka Tankala and Peter Li; executive compensation and employee benefits partners Shawn Lampron and Marshall Mort and associate Corinne Nhaissi; technology transactions associate Igor Voloshin; and tax partner Will Skinner and counsel Ora Grinberg.

Read the full article on Reuters (subscription required).