Crypto exchange Coinbase on Wednesday added four high-profile members to its global advisory council, including former U.S. Senator Kyrsten Sinema and Chris LaCivita, co-campaign manager for President Donald Trump's re-election.
Drafting a framework for the growth of the crypto sector has been a top priority for the Trump administration after years of enforcement actions that the industry has criticized as regulatory overreach by U.S. agencies.
The crypto industry donated millions of dollars to support Trump's return to the White House and expectations of a more favorable regulatory setup powered bitcoin to record highs in 2024, surpassing $100,000 for the first time.
The new additions also include Bill Dudley, former president of the Federal Reserve Bank of New York and Luis Alberto Moreno, a global development and international finance expert.
The company said the new hires will support its executive leadership team as it navigates "new political and regulatory realities".
Last month, Trump named former PayPal Chief Operating Officer David Sacks as his "White House A.I. & Crypto Czar", marking another step toward overhauling U.S. policy.
Sacks and other officials in the Trump administration such as the chairs of the Securities and Exchange Commission and Commodity Futures Trading Commission are expected to reshape U.S. policy on digital currency alongside a newly-created crypto advisory council.
"The crypto industry deserves better," said LaCivita, a political strategist who serves as chief of staff for the Republican National Committee.
Support from Wall Street institutions and corporate titans such as Elon Musk as well as the approval of U.S. exchange-traded crypto funds have boosted the sector's mainstream appeal even as a lack of regulatory clarity remains a persistent drag.
The market capitalization of the crypto sector is $3.61 trillion, according to data from CoinGecko, with analysts anticipating further gains in 2025.