Coinbase Board Members Boosted to Drive Crypto Activity Ahead of the 2024 Election

Key Points:

• Coinbase board members now added Chris Lehane, Paul Clement, and Christa Davies.
• The expansion aims to boost Coinbase’s political influence in cryptocurrency ahead of the 2024 election.
• Coinbase also plans to launch a tokenized money-market fund and its advocacy group now has 1.3 million members.

According to Reuters, Coinbase board members have now added three new names—Chris Lehane, Paul Clement, and Christa Davies—to increase its total board of directors from seven to ten.

Read more: Coinbase Custody Services Will Access 8 New Spot Ethereum ETFs

Coinbase Board Members Expanded with Key Industry Figures

It has made the addition of these top-notch experts in different relevant backgrounds to increase its influence on US cryptocurrency policy and to enhance global financial operations.

Chris Lehane, the former policy chief at Airbnb and former staff member in the Clinton White House, will be the strategic counsel. Paul Clement, former US Deputy Attorney General, is likely to take on a leading role in fighting the SEC’s approach to regulation, demanding more clarity about digital asset regulation. Christa Davies, CFO at Aon, will be responsible for leading financial and operational excellence globally.

Coinbase also highlighted their political diversity, really driving home that the reality of moving the industry forward is going to require bipartisanship.

New Coinbase board members furthers the broader goal that the exchange has in mind: rising in political influence at the oncoming 2024 presidential election. The prospects for the industry may turn around depending on the outcome of that election, particularly if Republican candidate Donald Trump comes back into office.

Coinbase to Introduce Tokenized Money-Market Fund

The Coinbase-backed advocacy group Stand With Crypto has grown to 1.3 million members in its push to secure crypto interests in Washington. Meanwhile, pro-crypto super PACs like Fairshake, Defend American Jobs, and Protect Progress have rallied more than $230 million combined to a variety of candidates.

It is also reported planning a real-world tokenized money-market fund via its asset management arm, which will have it join major traditional financial players such as BlackRock and Goldman Sachs in the tokenized asset space.