Former UK Finance Minister Joins Coinbase’s Global Advisory Council
George Osborne, the former British finance minister, has joined the global advisory council of cryptocurrency exchange Coinbase. Alongside other high-profile figures such as Mark Esper and Patrick Toomey, Osborne will provide strategic advice to the exchange. Coinbase praised Osborne’s extensive experience in business, journalism, and government and expressed excitement about his insights and contributions as they continue to expand globally.
Building Connections with Politicians and Regulators
An article from CNBC suggests that Coinbase has hired Osborne to help establish connections with politicians and regulators. This move is expected to aid the exchange in shaping crypto-friendly regulations. Osborne, who served as Chancellor of the Exchequer from 2010 to 2016, recognizes the transformative potential of financial markets and believes in building a new future in financial services through blockchain technology.
Supporting Pro-Crypto Politicians
Following the announcement of Osborne’s appointment, reports have surfaced suggesting that Coinbase, along with Ripple, is one of the major financial backers of the pro-crypto super political action committee (PAC) called Fairshake. Fairshake aims to support politicians who advocate for cryptocurrencies and has raised $85 million, with two-thirds of the funds coming from crypto firms. Other significant contributors include a16z and Electric Capital.
Hot Take: George Osborne Strengthens Coinbase’s Advisory Council
George Osborne’s addition to Coinbase’s global advisory council is a significant step in enhancing the exchange’s network and influence. With his vast experience and connections in business, journalism, and government, Osborne’s insights and strategic advice will undoubtedly contribute to Coinbase’s growth on a global scale. As Coinbase continues to navigate regulatory challenges, having powerful figures like Osborne on their side will help shape favorable policies for the crypto industry. The support of pro-crypto politicians through initiatives like Fairshake further solidifies Coinbase’s commitment to championing the adoption and advancement of cryptocurrencies.
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