Coinbase has appointed four influential figures to its global advisory council, signaling a strategic move to navigate the evolving regulatory landscape of the cryptocurrency sector. Among the new additions are former U.S. Senator Kyrsten Sinema and Chris LaCivita, a key figure in President Donald Trump’s re-election campaign.
The appointments come as the Trump administration prioritizes establishing a framework for crypto industry growth, following years of enforcement actions criticized by the industry as excessive. This suggests Coinbase aims to directly influence policy discussions by leveraging the deep political and financial connections of its new advisors, according to Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors.
The crypto industry significantly contributed to Trump’s re-election campaign, fueled by expectations of a more favorable regulatory environment. This optimism propelled Bitcoin to unprecedented heights in 2024, surpassing $100,000 for the first time.
Joining Sinema and LaCivita on the advisory council are Bill Dudley, former president of the Federal Reserve Bank of New York, and Luis Alberto Moreno, a prominent expert in global development and international finance. Their combined expertise underscores the growing integration of cryptocurrencies into traditional financial systems, as noted by analysts at Bernstein. They further predict Bitcoin’s continued ascent towards $200,000.
Earlier this month, the U.S. Securities and Exchange Commission (SEC) formed a task force dedicated to developing a regulatory framework for crypto assets. Furthermore, President Trump appointed former PayPal executive David Sacks as his “White House A.I. & Crypto Czar,” signaling a potential overhaul of U.S. digital currency policy.
Increased support from Wall Street institutions, corporate leaders like Elon Musk, and the approval of U.S. exchange-traded crypto funds have significantly enhanced the mainstream appeal of the crypto sector.
Analysts at Mizuho anticipate Coinbase shares will benefit from Bitcoin’s continued growth in the medium term, suggesting a “rising tide lifts all boats” scenario. The strategic assembly of this high-profile advisory council positions Coinbase to capitalize on the evolving regulatory landscape and solidify its position within the rapidly maturing crypto market. This move underscores the increasing convergence of traditional finance and the digital asset space, setting the stage for further integration and growth.
