In a recent development, Coinbase announced that Chris LaCivita, the co-campaign manager for Donald Trump's 2024 election bid, will join its Global Advisory Council. This move comes shortly after a meeting between Trump and Coinbase CEO Brian Armstrong, indicating close ties between the two entities. LaCivita will work alongside notable figures such as former Senator Kyrsten Sinema and former New York Fed president Bill Dudley to guide the cryptocurrency exchange on regulatory matters. LaCivita criticized the current administration's approach to crypto regulations, asserting that the industry deserves better and voicing hopes for the US to lead in the digital asset space. Coinbase's advisory council was formed in May 2023 to help navigate the complex crypto landscape and includes various former lawmakers. Coinbase has also increased its political engagement, previously donating $1 million to Trump's inauguration fund and contributing $45 million to pro-crypto candidates in the 2024 elections, signaling a shift from its earlier stance that focused solely on its mission without supporting specific causes or candidates.

Source 🔗