Britain’s former chancellor of the exchequer, George Osborne, joins Coinbase’s global advisory council. Osborne becomes the latest high-profile politician to join the crypto exchange’s advisory council. The former finance minister has said he is looking forward to working with Coinbase as it builds “a new future in financial services.”
Coinbase to Tap Into Osborne’s Wealth of Experience
George Osborne, the former British finance minister, has joined the global advisory council of the U.S. cryptocurrency exchange Coinbase. Osborne joins Mark Esper, the former U.S. Secretary of Defense, and former U.S. Senator Patrick Toomey (R-PA) who already serve as the crypto exchange’s global strategy advisers.
Coinbase, which has faced off with U.S. regulators like the Securities and Exchange Commission (SEC), praised Osborne’s addition to the growing list of powerful politicians who advocate or support the crypto cause. Remarking on Osborne’s appointment, Faryar Shirzad, Coinbase’s chief policy officer, said:
“Pleased to have George join our council at an exciting time for us in the U.K. and globally. George brings with him a wealth of experience in business, journalism and government. We look forward to relying on his insights and experiences as we grow Coinbase around the world.”
Financial Markets Transformation and the Blockchain Link
According to a CNBC report, Coinbase has hired the former British Chancellor of the Exchequer, George Osborne, to connect the company with politicians and regulators. Coinbase hopes that such connections will help influence legislators and regulators to come up with crypto-friendly regulations.
Osborne, who served as the Chancellor of the Exchequer between 2010 and 2016, linked the financial markets’ transformation to the blockchain. The former finance minister said he is looking forward to working with Coinbase as it builds “a new future in financial services.”
Meanwhile, the confirmation of Osborne’s appointment to the advisory council was immediately followed by reports suggesting that Coinbase and Ripple are among the biggest financial backers of the super political action committee (PAC) Fairshake.
Fairshake reportedly aims to support pro-crypto politicians on both sides of the divide. It has raised $85 million with crypto firms alone accounting for two-thirds of this. The other major crypto donors are Andreessen Horowitz’s a16z and Electric Capital.
What are your thoughts on this story? Let us know what you think in the comments section below.