"Coinbase Bolsters Crypto Influence with Trump Ally and Fed Veteran"

Crypto exchange Coinbase has made significant strides in expanding its influence and expertise by adding four prominent figures to its global advisory council. The new members, announced on January 29, 2025, include Chris LaCivita, co-manager of President Trump's 2024 campaign, former Federal Reserve Bank of New York President Bill Dudley, former Senator Kyrsten Sinema, and former Inter-American Development Bank President Luis Alberto Moreno.

Coinbase Chief Policy Officer Faryar Shirzad stated that these new members represent some of the brightest minds in finance, tech, and politics, and will help guide the company's direction as the world enters a new era for crypto. The addition of LaCivita, in particular, signals Coinbase's intent to navigate the increasingly complex and evolving crypto landscape under the Trump administration.

LaCivita, who has close ties to the Republican National Committee and the US president, echoed Trump's claims of making the US a leader in digital assets. He believes that the crypto industry deserves better than the Biden administration's approach to legislation and regulation. Coinbase's advisory council, established in May 2023, already includes several former US lawmakers, such as former Senator Pat Toomey.

Coinbase CEO Brian Armstrong has previously met with Trump to discuss personnel appointments and has expressed the company's commitment to supporting the transition from the Biden administration. In 2020, Armstrong stated that Coinbase would not support any particular causes or candidates unrelated to its mission. However, following a Wells notice from the US Securities and Exchange Commission in 2023, the company launched efforts to influence the outcome of US congressional elections, contributing $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. A federal judge is currently pending a decision by the Second Circuit Court of Appeals that could reverse an order denying the exchange's motion for judgment.

Coinbase's strategic moves, including the addition of influential figures to its advisory council, indicate the company's determination to shape the regulatory landscape and solidify its position as a leading player in the crypto industry. As stablecoins continue to disrupt the payments landscape, Coinbase's efforts to engage with key political and financial figures may prove crucial in navigating