In response to the growing concerns over the use of cryptocurrencies for illicit activities, Coinbase (NASDAQ:COIN), the globally trusted digital asset platform, has added four key Washington figures to its Global Advisory Council today. The new members include Mark Esper, Stephanie Murphy, David Urban, and Frances Townsend, an ex-adviser to President George W. Bush and executive VP at Activision Blizzard (NASDAQ:ATVI).
The addition of these influential figures comes during a challenging period for the cryptocurrency industry. It follows the conviction of Sam Bankman-Fried for wire fraud and conspiracy tied to his crypto exchange FTX, which has been implicated in financing Hamas' attacks on Israel. This case has amplified scrutiny of the cryptocurrency industry.
These new members join initial council members such as Patrick Toomey and Tim Ryan, who have been guiding Coinbase during this tumultuous period. The bolstered council is expected to leverage their collective expertise to navigate the complex landscape and contribute to Coinbase's growth.
Faryar Shirzad, Coinbase's Chief Policy Officer, welcomed these leaders to the council. Speaking about the recent developments, Shirzad revealed to The Hill that the strengthened council would play a crucial role in guiding Coinbase's future strategies amidst the heightened scrutiny within the cryptocurrency industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.