Coinbase appoints former xAI finance chief Anthony Armstrong to its board

A Wall Street veteran with a Musk connection

@coinbase has appointed Anthony Armstrong to its board of directors and audit committee, the company announced on September 2. Armstrong, described by Bloomberg as an Elon Musk ally and former Morgan Stanley banker, most recently served as chief financial officer of Musk's companies, including xAI and X Corp.

Armstrong, who previously advised Musk during the Twitter acquisition, was appointed to oversee the finances of both xAI and X after the two companies merged. Before his time at xAI, he worked as a Morgan Stanley banker and played an advisory role during the acquisition of X, the social media platform formerly known as Twitter. Prior to that, Armstrong spent nearly a decade leading global technology mergers and acquisitions at Morgan Stanley.

DOGE ties and a fresh role at Coinbase

Armstrong also served in the Department of Government Efficiency (DOGE) during the current administration. DOGE was established by executive order on January 20, 2025, when President Donald Trump renamed the United States Digital Service and created a temporary organisation scheduled to end on July 4, 2026. The body's stated objective was to modernise federal information technology, increase productivity, and reduce regulations and spending.

Coinbase noted in its announcement that Armstrong is not related to chief executive Brian Armstrong, a clarification likely made given the shared surname at one of the crypto industry's most prominent publicly listed companies. Armstrong joins the board as Coinbase continues to expand its institutional footprint and regulatory engagement across Washington.

Sources:
Bloomberg: Musk Ally Anthony Armstrong Joins Coinbase's Board of Directors
TechCrunch: xAI hires former Morgan Stanley banker Anthony Armstrong as CFO
Yahoo Finance (Reuters): CFO Anthony Armstrong leaves xAI