Coinbase Bolsters Board with Trump Campaign Manager, Navigating Crypto's Complex Landscape

Crypto giant Coinbase has shaken up its advisory board, adding high-profile figures including Chris LaCivita, the Trump campaign manager for the 2024 election. The exchange announced the appointment of LaCivita, along with former New York Fed Chair Bill Dudley, former Arizona Senator Kyrsten Sinema, and Luis Alberto Moreno, Managing Director of Allen & Co. (Golden Finance), to its Global Advisory Board.

LaCivita, who has close ties to the Republican National Committee and likely continues to have a relationship with the US president, joins the board as Coinbase seeks to navigate the increasingly complex and evolving crypto landscape globally. The exchange established its advisory council in May 2023 to provide strategic guidance as it seeks clearer regulatory frameworks in the US and internationally.

Coinbase CEO Brian Armstrong reportedly met with Trump in November after the US election to discuss personnel appointments. The exchange donated $1 million to Trump’s inauguration fund and said it was “committed to supporting” the transition from the Biden administration. However, in 2020, Armstrong stated that Coinbase would not support “any particular causes or candidates” unrelated to its mission, calling them a “distraction.”

After receiving a Wells notice from the US Securities and Exchange Commission in 2023, which ultimately led to a civil lawsuit, Coinbase launched efforts to influence the outcome of US congressional elections. The company contributed $45 million to help elect “pro-crypto” candidates in 2024. With the election of Trump, some executives at crypto firms have suggested that the SEC’s new leadership could drop enforcement cases, potentially including Coinbase’s.

The addition of LaCivita and other prominent figures to Coinbase’s advisory board signals the exchange’s commitment to engaging with key stakeholders in the political and financial spheres. As the crypto industry continues to evolve, Coinbase is positioning itself to navigate the complex regulatory landscape and advocate for clearer guidelines to support the growth and development of the sector.