Coinbase has hired former UK Chancellor George Osborne to grow its brand “around the world”. Osborne will also be able to provide insights and experience in Coinbase’s ongoing regulatory challenges. The US cryptocurrency exchange operator is currently at loggerheads with the Securities and Exchange Commission and has been actively courting politicians and lawmakers.
George Osborne joins Coinbase’s advisory council
Osborne, who served as Chancellor for six years until 2016, will join CoinBase’s advisory council. In a statement, the 52-year-old announced he was excited about the “huge amount” of innovation that is present in the financial industry. He will now use his experience in a range of sectors and disciplines – these include business and journalism, both of which will work to support Coinbase’s endeavours globally.
In a further statement, Osborne added:
Blockchains are transforming financial markets and online transactions. Coinbase is at the frontier of these developments. I look forward to working with the team there as they build a new future in financial services.
Growth is on the agenda for CoinBase in 2024; the crypto exchange is planning to expand into other markets such as Bermuda and Singapore. However, a battle with the SEC looms large. The US regulator sued Coinbase last month after claiming that it has evaded disclosure requirements.
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The frosty outlook for crypto companies in the US is countered by a more welcoming environment in the UK where the government has outlined its desire to be a “hub” for digital assets.
Coinbase is now attempting to funnel more funds to pro-crypto lawmakers in the US with the hopes of changing that narrative. Hiring Osborne, a former Conservative politician, fits in perfectly with this new strategy. Osborne has taken on a series of lucrative jobs since leaving office and will now work at Coinbase whilst continuing with his several other high-profile roles.
