By
Steve Muchoki
April 19th, 2024
The Coinbase Global Advisory Council will work together with top executives among other regulatory council members for the same common goal.
Coinbase Global Inc (NASDAQ: COIN), a leading cryptocurrency exchange that is publicly traded in the United States, has increased its international interest amid regulatory scrutiny in the country. The exchange has in recent years focused on remote-first operations, which has significantly helped counter the Securities and Exchange Commission’s (SEC) fight against crypto. Moreover, the exchange is under the radar of Gary Gensler and his team for apparently offering unregistered securities including some crypto listings and staking products.
Coinbase Global Advisory Council
In a bid to navigate through the changing crypto regulatory landscape in the United States and in the international market, Coinbase Global has formed a new Global Advisory Council, which combines the knowledge of top leaders and ex-public appointees. According to the announcements the new Global Advisory Council will work closely with Coinbase’s top leadership to help navigate the regulatory landscape amid rising competition from other CEX and DEX platforms.
“The Advisory Council will strengthen our efforts with stakeholders across the community as we seek to responsibly deploy crypto to help make the financial system more open, accessible, and fair, and make the case to stakeholders around the world that crypto and blockchain will usher in a new era of the internet based on decentralized protocols,” Coinbase noted.
Notably, the exchange carefully selected the Advisory Council to consist of diverse perspectives from both sides of the political aisle. Among the selected includes Tim Ryan, a former congressman representing the Ohio people for more than 20 years through the Democratic Party. Ryan brings a lot of experience in financial regulation, after working through the House Appropriations Committee in his political career.
The other member of the Coinbase Advisory Council is former Senator Patrick Maloney, who was elected five times to represent New York’s 18th congressional district in the United States House of Representatives.
The other member of the Coinbase Advisory Council is Pat Toomey, who represented the state of Pennsylvania in the United States Senate from 2011 to 2023. In the council is also John Anzalone, the founder of Impact Research Polling that has worked for President Obama, Hillary Clinton, and President Joe Biden’s campaigns.
Also on the list is Chris Lehane, the Chief Strategy Officer of Haun Ventures which focuses on crypto and is led by Katie Haun.
Reportedly, the newly formed advisory council will work closely with Coinbase Asset Management Academic and Regulatory Advisory Council to achieve the same goal.
Market Outlook
Coinbase shares closed Friday trading at $57.34, down approximately 5 percent from the day’s opening price. Nevertheless, the $13.45 billion valued tech company has seen its stock market rise more than 62 percent YTD. However, due to regulatory upheavals among other unpredictable factors, 28 analysts gave COIN shares an average rating of Hold.