Coinbase's Top Lawyer Paul Grewal Exits Effective July 31 as Crypto's Biggest Legislative Vote Looms

On July 8, Paul Grewal announced he is stepping down as Coinbase's chief legal officer, effective July 31, after six years leading the company's legal operations. Grewal took Coinbase public in 2021 and successfully defended the firm against an SEC lawsuit that was dropped with prejudice in early 2025.

Hours later, Grayscale confirmed that CFO Edward McGee has stepped down after seven years, effective July 2. Both executives are departing on good terms with successors already named. The dual departures occur as the CLARITY Act—legislation that would assign jurisdiction over digital assets across the CFTC, SEC, and banking regulators—faces a critical Senate floor vote. The Senate returns July 13 with approximately three weeks before the August 8 recess.