Crypto giant Coinbase expands board, aims for political impact
The expansion is part of Coinbase’s broader strategy to enhance its political positioning during a crucial period in US politics.
Coinbase has added three new members to its board of directors, including an executive from OpenAI, as part of its strategy to influence US crypto policy. The new board members are Chris Lehane from OpenAI, former US Solicitor General Paul Clement, and Christa Davies, CFO of Aon and a board member for Stripe and Workday. This expansion brings the board from seven to ten members.
The additions come as Coinbase and the cryptocurrency industry aim to strengthen their political influence in the upcoming presidential election. Clement will guide Coinbase’s efforts to counter the SEC and advocate for clear digital asset regulations. Lehane, a former Airbnb policy chief, will provide strategic counsel, while Davies will focus on enhancing Coinbase’s financial and operational excellence globally.
Stand With Crypto, a non-profit organisation funded by Coinbase, now boasts 1.3 million members, and three major pro-crypto super political action committees have raised over $230 million to support favorable candidates.
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