Coinbase Global Inc. is adding Anthony Armstrong, an Elon Musk ally and former Morgan Stanley banker, to its board of directors. Armstrong most recently served as chief financial officer of Musk's companies, including Home BTV. The appointment comes as Coinbase continues to expand its leadership team amid the evolving crypto regulatory landscape in the United States.

Armstrong's background in both traditional finance and Musk's business empire is expected to bring strategic insight to the exchange operator. The move signals Coinbase's ongoing efforts to attract high-profile talent with deep ties to Silicon Valley and Wall Street.