Crypto exchange Coinbase hires Sinema, LaCivita #CriptoNews

Cryptocurrency exchange Coinbase is bringing on two big names to help shape policy in its fast-growing industry: Former Sen. Kyrsten Sinema and Chris LaCivita, President Donald Trump’s co-campaign manager in 2024.

The hires to Coinbase’s Global Advisory Council, shared first with Semafor, demonstrate the bullish view the crypto industry is taking on Trump’s second term. Sinema, the Arizona Independent who pushed for crypto-friendly legislation as a senator, will be picking up where she left off by working to get bipartisan deals through a closely divided Congress.

Trump’s administration is decidedly more pro-crypto than the Biden administration, as he’s already shown with early moves — but Sinema said she’ll still be keeping busy, citing the importance of binding new laws for digital assets rather than an enforcement strategy that varies depending on who’s in the White House.

“There’s some people who think, ‘Well, now you have a Trump administration that’s pro-crypto. You’ve got David Sacks as the crypto czar. You don’t really need legislation.’ That is wrong,” Sinema said in an interview. “Then you’re still in a scenario where consumers such as yourself can’t feel confident without a lot of outside education or assistance.”

Neither Sinema nor LaCivita will be lobbying, but both will utilize their knowledge of the Hill and Trump’s network to help the industry navigate this Congress and beyond. After spending sizable amounts to boost pro-crypto candidates in the 2024 elections, the new hires show the digital asset industry isn’t done building its influence.

The two new crypto advisers bring different strengths: Sinema was a consummate dealmaker in the Senate, helping negotiate cross-aisle agreements on infrastructure and gun safety, while LaCivita remains close to Trump and his key advisers.

LaCivita said Trump has “heard a lot about [crypto] from Barron,” the president’s youngest son.

“The boss was very much into learning about as much of this as possible,” LaCivita said in an interview. “The president’s made it perfectly clear he wants to be on the forefront.”

Former Federal Reserve Bank of New York President Bill Dudley and Former Inter-American Development Bank president Luis Alberto Moreno are joining Sinema and LaCivita as new Coinbase advisers. The company’s team already includes former Sen. Pat Toomey, R-Pa., former Rep. Stephanie Murphy, D-Fla., and several other former officials from both parties.