U.S. crypto exchange Coinbase adds three board members, including OpenAI executive

By Stephanie Kelly

NASHVILLE (Reuters) – U.S. cryptocurrency exchange Coinbase has added three new members to its board of directors, including an executive from ChatGPT maker OpenAI, the company told Reuters on Thursday, as it steps up its efforts to influence U.S. cryptocurrency policy.

The new members include Chris Lehane, a member of the executive team at OpenAI; Paul Clement, a former U.S. attorney general under President George W. Bush; and Christa Davies, a CFO of Aon and a board member of Stripe and Workday. These additions will bring the board to 10 from seven.

Coinbase’s move to expand its board of directors comes as the company and the cryptocurrency industry more broadly aim to make the industry a major political force in this year’s presidential election. The industry’s fate could change if Republican nominee and former president Donald Trump wins back the White House in November.

Clement will advise Coinbase on its efforts to “counter the excesses of the SEC (U.S. Securities and Exchange Commission) and fight for clear rules for digital assets.”

Coinbase said Lehane, Airbnb’s former policy chief who also served in the Clinton White House, will provide strategic advice.

Davies will focus on Coinbase’s “financial and operational excellence on a global scale.”

Coinbase said all three members have different political views.

“For crypto to be successful, it needs to be bipartisan,” Lehane told Reuters in an interview on Thursday.

Coinbase-backed Stand With Crypto, an advocacy group for cryptocurrency-holding voters, has reached 1.3 million members.

Meanwhile, three major pro-crypto super political action committees — Fairshake, Defend American Jobs, and Protect Progress — have raised over $230 million to support friendly candidates that didn’t even exist until this cycle.

(Reporting by Stephanie Kelly in Nashville; Editing by Michelle Price and Chizu Nomiyama)