OpenAI Exec and Former Clinton Advisor Joins Coinbase Board of Directors

Coinbase, a San Francisco-based cryptocurrency exchange, has appointed three new directors to its board.

One of the notable appointees is Chris Lehane, an executive at OpenAI and a former political strategist for President Bill Clinton. Lehane has had previous experience in which she contributed to the process of legalizing Airbnb all over the world. He will also become a member of Coinbase’s board of directors to assist the company with strategy and to help it manage through the uncertain legal environment.

Today we announce that Chris Lehane, Paul Clement, and Christa Davies are joining Coinbase’s Board of Directors.

They each have different political philosophies and career paths but all have arrived at the same conclusion: crypto is a powerful tool to update the system. pic.twitter.com/bQyEtO6thl

— Coinbase 🛡️ (@coinbase) July 25, 2024

Lehane’s appointment is considered as a well-thought-out decision for Coinbase as a company. Lehane’s new position will be to help Coinbase’s management stay in compliance with the changing international laws concerning cryptocurrencies.

The company stated,

“As nations of the world introduce new policies that recognize the potential of crypto in revolutionizing the financial system, Chris will offer strategic direction to Coinbase’s management as the firm seeks to make on-chain the new online.”

Lehane has had prior association with Coinbase as a member of its Global Advisory Council and thus is well placed to take on this new responsibility.

Additional Board Members

Coinbase has also selected Christa Davies and Paul Clement to serve on its board of directors, together with Lehane. Christa Davies who was the CFO at Aon will join Coinbase’s audit and compliance committee. Her previous positions, such as the CFO of Microsoft’s platforms and services division, make her well suited to provide financial management for Coinbase.

Paul Clement, former solicitor general of the Bush administration and a man with many years of experience in the sphere of litigation, will also contribute to the board. Clement has appeared in over one hundred cases before the U.S. Supreme Court and this makes him a suitable candidate for Coinbase especially in the current legal issues with the U.S Securities and Exchange Commission.

These new board members are keen on ensuring that financial inclusion is embraced through the use of digital assets. Chris Lehane expressed his interest with Coinbase mission, particularly the aspect of economic inclusion.

He stated,

“I am looking forward to backing Coinbase as it raises the voice of the 52 million Americans who own crypto, especially the youth and especially people of color, and the fight for everyone to keep their fair share of the economic pie.”

Bipartisan Engagement

Lehane is expected to help Coinbase in its attempts to connect with various stakeholders, Republicans and Democrats included. In an interview with Politico, Lehane noted the bipartisan nature of current legislative efforts regarding digital assets, saying, 

“There are Democratic senators today engaged in bipartisan work with Republican senators to come up with legislation in the Senate and that is real work, the real deal.”

His political experience will come in handy especially for Coinbase since it will be at the forefront of policy change on cryptocurrency.

Paul Grewal, the Chief Legal Officer at Coinbase, described Lehane as one of the best political and legal minds of the generation.