Coinbase Adds Three New Board Members, Including This OpenAI Executive
Coinbase, the U.S. cryptocurrency exchange, has added three new members to its board of directors, including a director from ChatGPT maker OpenAI, as the company ramps up its efforts to influence U.S. crypto policy, Coinbase told Reuters on Thursday.
The new members are Chris Lehane, a member of the executive team at OpenAI; Paul Clement, former U.S. Solicitor General under President George W. Bush; and Christa Davies, chief financial officer for Aon and board member for Stripe and Workday. The additions expand the board from seven to 10.
Coinbase’s move to expand its board of directors comes as the company and the broader cryptocurrency industry look to make the industry a major political force in this year’s presidential election. The industry’s fortunes could change if Republican nominee and former President Donald Trump wins back the White House in November.
Clement will advise Coinbase on efforts to “resist over-invasion by the SEC (the U.S. Securities and Exchange Commission) and fight for clear rules of the game for digital assets.”
Lehane, a former policy officer at Airbnb and a member of the Clinton White House, will provide strategic advice, Coinbase said.
Davies will focus on Coinbase’s “financial and operational excellence on a global scale.”
According to Coinbase, the three members all have different political philosophies.
“To make crypto successful, you need a bipartisan approach,” Lehane told Reuters in an interview on Thursday.
Stand With Crypto, an advocacy group for cryptocurrency-owning voters backed by Coinbase, now has 1.3 million members.
Meanwhile, three major pro-crypto super political action committees — Fairshake, Defend American Jobs and Protect Progress, all of which didn’t exist until this cycle — have raised more than $230 million (roughly Rs. 1,925 crore) to support sympathetic candidates.
© Thomson Reuters 2024
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