Coinbase Expands Advisory Board Amidst Regulatory Scrutiny
Coinbase Global Inc. has significantly expanded its global advisory council, adding prominent figures from the political and financial sectors. This strategic move comes as the exchange faces ongoing legal battles with US regulators.
Coinbase Strengthens Advisory Team
Newly appointed advisors include Chris LaCivita (co-campaign manager for Donald Trump), former Federal Reserve Bank of New York President William Dudley, and former U.S. Senator Kyrsten Sinema. Luis Alberto Moreno, Managing Director at Allen & Co., also joined the council.
Strategic Timing and Policy Shifts
This expansion coincides with what some see as a shift towards more crypto-friendly policies, particularly following recent executive orders. Coinbase's actions suggest a proactive strategy to influence Washington D.C. and shape future regulations.
The move follows Senator Cynthia Lummis' criticism of the SEC's approach, which she argues stifles innovation. By adding influential advisors, Coinbase aims to strengthen its advocacy efforts.
Expanding Global Reach and Bitcoin Advocacy
Beyond regulatory battles, Coinbase is actively expanding its international presence. Recent licensing in Argentina highlights its focus on emerging markets. Coinbase CEO Brian Armstrong remains a vocal advocate for Bitcoin, describing it as a superior form of money and urging government adoption.
This strategy aligns with the growing institutional and sovereign interest in Bitcoin as a store of value. Coinbase has also launched Bitcoin-backed loans, offering institutional investors liquidity without asset sales. This signals Coinbase's commitment to both navigating regulatory complexities and fostering innovation within the crypto space.
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