US Crypto exchange Coinbase has onboarded three new members to its board of directors, including Chris Lehane, an OpenAI executive who worked as a former aide to ex-US President Clinton.
Per a Reuters report, the recent addition of new board members would make the exchange’s board from seven to ten. Their onboarding comes as the exchange is gearing up to possibly benefit from an improving regulatory regime, post November elections.
Lehane, a member of the executive team at ChatGPT-maker OpenAI; Paul Clement, ex-U.S. Solicitor General under former President George W. Bush and Christa Davies, chief financial officer for Aon, have joined the Coinbase exchange lately.
The move would also bolster Coinbase’s bipartisan credentials as Trump is expecting for more support and contributions from the industry. The GOP presidential nominee has so far amassed more than $4 million in crypto donations, dominated by Bitcoins.
Per the report, Lehane, the former member of Clinton White House, will act as the strategic counsel to Coinbase. “For crypto to succeed, it needs to be bipartisan,” Lehane told Reuters.
Further, Clement will play as Coinbase’s advisor in a move to “push back against the SEC’s overreach and fight for clear rules of the road for digital assets.” Davies, will spearhead Coinbase’s financial and operational excellence on a global scale.
Lehane Had Years of Conversation With Coinbase Leadership Team
Per a recent interview with Politico, Lehane noted that he has been in talks with Coinbase’s leadership team for years. His board seat came following his advice to the exchange on how to grow the brand’s trust, while being bipartisan.
“As we sit here right now, there are Democratic senators working with Republican colleagues on legislation in the Senate — there’s real hard work going on,” Lehane told Politico.
“I think it’s one of the unique aspects of this space: You can be an economic freedom person, maybe more libertarian or you can be me, an economic opportunity person. And you can see within digital assets how it can support a different type of financial system.”
Lehane also spoke about the super PAC, that there is a need for them to “think about how they were going to engage in and play politics consistent,” particularly when crypto space is transitioning. He credited the super PAC for disclosing its donors and its motives.
Paul Grewal, Coinbase’s Chief Legal Officer, said Lehane as “one of the foremost political and legal strategists of our time.” He has been a leading voice in crypto’s growing political significance for both parties, Grewal added in a statement.
“His counsel will be essential as Coinbase continues to engage stakeholders across party lines from all branches of government on the need for bipartisan, pro-crypto policies.”
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