Coinbase Adds Marc Andreessen as Board Observer, Replacing Chris Dixon

Coinbase has added legendary investor Marc Andreessen of venture capital firm Andreessen Horowitz and Gokul Rajaram, a DoorDash executive, to its board of directors.

• Andreessen, whose tech-focused venture firm manages $12 billion, will operate as a board observer and Rajaram, who oversees Caviar, will become a board director, according to a Monday blog post.
• The pair replace outgoing board members Chris Dixon and Barry Schuler. Dixon, a board observer, was an early investor in Coinbase, and Schuler, the Series C director, will now become an observer too.
• The high-profile board additions bring major boardroom clout to the one of the most popular cryptocurrency exchanges in the U.S. and comes as Coinbase is reportedly considering going public.