Coinbase has appointed four new members to its global advisory council, including Chris LaCivita, Donald Trump’s 2024 co-campaign manager.
Coinbase has appointed four new members to its global advisory council, including Chris LaCivita, Donald Trump’s 2024 co-campaign manager. LaCivita, who has longstanding ties to the Republican National Committee, has criticized the Biden administration’s approach to crypto regulation and echoed Trump’s stance on making the U.S. a leader in digital assets. The other additions include former U.S. Senator Kyrsten Sinema, ex-New York Fed President Bill Dudley, and Allen & Co. Managing Director Luis Alberto Moreno.
Coinbase formed its advisory council in May 2023 to help navigate global crypto regulations. The latest appointments come as the company faces legal battles with the SEC, which accused it of violating securities laws. That lawsuit, initiated under the Biden administration, has been put on hold as the Trump administration takes office. With Trump’s return, some industry insiders expect regulatory scrutiny to ease. The crypto industry donated millions to support Trump’s campaign, and his administration is seen as more favorable to digital assets.
Trump’s influence in the crypto space has extended beyond regulation. His media company, Trump Media & Technology Group, announced the launch of Truth.Fi, a fintech arm focused on financial services and cryptocurrency investments. The company has set aside $250 million to buy Bitcoin and other crypto-related assets, with custody services provided by Charles Schwab. Trump has also appointed former PayPal executive David Sacks as his “White House AI & Crypto Czar,” reinforcing expectations that his administration will actively reshape digital asset policy.
Coinbase CEO Brian Armstrong met with Trump after the 2024 election, reportedly discussing personnel appointments. In 2020, Armstrong stated that Coinbase would not engage in political activism, but the company later contributed $45 million to support pro-crypto candidates in 2024. The company previously partnered with BlackRock, the world’s largest asset manager, to offer institutional crypto services. BlackRock CEO Larry Fink, once skeptical of Bitcoin, has since promoted the benefits of blockchain and tokenization.
Bitcoin’s price hit an all-time high of over $100,000 in 2024, driven partly by growing institutional adoption and optimism around the Trump administration’s regulatory stance. Analysts at Bernstein have predicted that Bitcoin could rise to $200,000, while Armstrong has gone further, suggesting that each Bitcoin could eventually be worth "multiple millions."
Bill Dudley, who previously warned of a “speculative mania” around crypto, now believes Coinbase can help responsibly integrate digital assets into the financial system. Kyrsten Sinema, known for advocating tax exemptions on small crypto transactions, adds another pro-crypto voice to the council. The SEC’s new leadership recently formed a task force to develop a regulatory framework for digital assets, signaling potential shifts in policy under Trump.
Coinbase’s latest advisory appointments reflect its deepening ties to political and financial leaders as it seeks greater influence over the future of cryptocurrency regulation.
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