US cryptocurrency exchange Coinbase has welcomed three new members to its board of directors, including Chris Lehane, director of OpenAI, who was a former aide to former US President Clinton.
According to a Reuters report, the recent addition of the new board members would increase the number of the exchange’s board members from seven to ten. Their admission came as the exchange prepares to possibly benefit from an improved regulatory regime after the November elections.
Lehane, a member of the executive team at OpenAI, the creators of ChatGPT; Paul Clement, former U.S. attorney general under former President George W. Bush; and Christa Davies, chief financial officer of Aon, recently joined the Coinbase exchange.
The move will also strengthen Coinbase’s bipartisan credentials, as Trump expects more support and input from the industry. The Republican Party presidential candidate has so far raised more than $4 million in cryptocurrency donations, with Bitcoins dominating.
According to the report, Lehane, a former member of the Clinton White House, will serve as a strategic advisor to Coinbase. “For cryptocurrencies to be successful, they need to be bipartisan.” – Lehane told Reuters.
In addition, Clement will serve as an advisor to Coinbase in a move to “stand up to SEC abuses and fight for clear rules for digital assets.” Davies will lead Coinbase’s financial and operational excellence globally.
Lehane has spoken to Coinbase’s leadership team over the years
According to a recent interview with Politico, Lehane noted that he has been in talks with Coinbase’s leadership team for years. His seat on the board came after he advised the exchange on how to increase trust in the brand while being bipartisan.
“As I sit here now, Democratic senators are working with their Republican colleagues on legislation in the Senate – there’s some really hard work going on,” – Lehane said.
Lehane also said super PACs need to “think about how they’re going to engage and play politics consistently,” especially as the cryptocurrency space undergoes a transformation. He credited super PACs with revealing their donors and motives.
Paul Grewal, Coinbase’s chief legal officer, said Lehane is “one of the leading political and legal strategists of our time.” He has been a leading voice in the growing political importance of cryptocurrencies to both parties, Grewal added in a statement.
“His advice will be crucial as Coinbase continues to engage cross-party stakeholders from all branches of government on the need for bipartisan policies that favor cryptocurrencies.”
