On January 30, 2025, Coinbase announced that Chris LaCivita, former co-campaign manager for Donald Trump’s 2024 election bid, will join its Global Advisory Council. This move aims to bolster the exchange's efforts to navigate digital asset regulation amidst a challenging political climate.
LaCivita's appointment comes as he criticizes the Biden administration's approach to cryptocurrency legislation, asserting that the industry 'deserves better.' Coinbase established its advisory council in May 2023, which includes other notable figures like former Senator Kyrsten Sinema and ex-New York Fed president Bill Dudley.
Coinbase's engagement in political lobbying has intensified, contributing $45 million to pro-crypto candidates ahead of the 2024 elections. This shift follows a Wells notice from the SEC in 2023 and a pending civil lawsuit, with hopes that a change in administration could influence regulatory enforcement.