- Coinbase, a major US cryptocurrency exchange, has expanded its board of directors with three new members to strengthen its influence on US crypto policy.
- The new additions to Coinbase’s board will leverage their expertise in strategy, finance, and legal matters to strengthen the company’s political influence and regulatory acceptance.
OUR TAKE
Coinbase’s strategic expansion of its board marks its effort in the crypto industry’s bid for mainstream acceptance and regulatory clarity. By enlisting heavyweights in different industries, Coinbase isn’t just bolstering its leadership—it’s positioning itself at the forefront of a political revolution.
–Ashley Wang, BTW reporter
What happened
Coinbase, a leading US cryptocurrency exchange, has expanded its board of directors with three new members, aiming to strengthen its influence on US crypto policy. The new appointees are Chris Lehane from OpenAI, Paul Clement, a former US Solicitor General, and Christa Davies, CFO of Aon and board member for Stripe and Workday. This expansion brings the board from seven to ten members.
“I am excited to support Coinbase as they continue to advocate for the 52 million Americans who own crypto (over-indexing on young people of color) and work to democratise the benefits of capitalism so more people can keep their fair share of the economic pie,” according to, Chris Lehane, a member of the executive team at OpenAI.
The move comes as Coinbase and the broader cryptocurrency industry seek to become a significant political force, particularly in the upcoming US presidential election. Coinbase is pushing for clear regulatory frameworks amid increasing scrutiny from the US. Securities and Exchange Commission (SEC).
Also read: Microsoft previews Bing generative research
Also read: Grayscale’s Ethereum lead at risk as big investors launch ETFs
Why it’s important
The three newly added member will provide their particular support for Coinbase. Chris Lehane, also a former policy chief at Airbnb and advisor to President Clinton, will offer strategic guidance, leveraging his deep political connections, Christa Davies will focus on enhancing Coinbase’s financial and operational strategies globally, while Paul Clement’s experience will be pivotal in these regulatory battles, providing legal expertise to counter perceived overreach by the SEC.
This board expansion reflects Coinbase’s effort to establish a bipartisan appeal, essential for gaining broader regulatory acceptance. These efforts underscore the industry’s drive to shape a favourable policy environment, critical for its future growth and stability.
Moreover, Coinbase’s approach could serve as a blueprint for bridging divides, showing that, whether Democrat or Republican, there’s a shared interest in harnessing the transformative potential of cryptocurrency. The decision might just catalyse a bipartisan consensus on the future of finance.
