Coinbase has expanded its global advisory board by adding key political and economic figures, including Chris LaCivita, the campaign manager for Donald Trump's 2024 presidential bid and current chairman of the Republican National Committee (RNC).
Coinbase, a leading cryptocurrency exchange, has appointed Chris LaCivita, the campaign manager for Donald Trump's 2024 presidential bid and current chairman of the Republican National Committee (RNC), to its global advisory board.
The move comes as Trump, a vocal critic of cryptocurrencies, prepares to return to the White House. Crypto firms are actively lobbying for favorable regulatory policies, and the new administration's key financial appointments - including SEC Chair Paul Atkins and the Treasury Secretary - are seen as pro-crypto.
Coinbase's decision to bring in LaCivita is seen as a strategic effort to build stronger relationships with the new administration. The global advisory board, established in 2023, provides strategic guidance to the company but does not have voting rights, unlike Coinbase's board of directors.
Other members of the advisory board include Bill Dudley, former president of the Federal Reserve Bank of New York (2009-2018), former Arizona U.S. Senator Krysten Sinema, and Allen & Co. Managing Director Luis Alberto Moreno.
Coinbase is also reportedly planning to launch a political action committee (PAC) to support candidates and causes that align with the company's interests, including crypto-friendly legislation.
The move by Coinbase is part of a broader effort by crypto firms to engage with the Trump administration and influence crypto policies.
In March 2024, Trump announced the members of his Economic Advisory Council, which included several crypto industry executives, such as BlockFi CEO Zac Prince and FTX US President Brett Harrison.
However, Trump's stance on cryptocurrencies has shifted over time. In 2021, he stated that he prefers gold over bitcoin, calling the latter "a scam." Despite these remarks, Trump's administration officials have expressed support for crypto innovation and regulatory clarity.
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