George Osborne Joins Coinbase Amid Regulatory Legal Battle
Coinbase recently announced the hiring of George Osborne amidst a significant legal challenge with a US regulator. The San Francisco-headquartered company appointed the ex-UK chancellor to its advisory council on Wednesday, with the intention of leveraging his expertise and past experiences to expand Coinbase globally.
This recruitment occurs as Coinbase faces a lawsuit from the Securities and Exchange Commission (SEC), alleging that the firm acted as an intermediary in crypto transactions without adhering to necessary investor protection disclosures. Coinbase contests these claims and is currently defending itself in court.
Since leaving his governmental role in 2016, Osborne has embarked on various lucrative careers, including roles in newspaper editing, fund management, academia, and government advisory. In 2021, he became a partner at the boutique investment bank adviser Robey Warshaw, where he earned a significant portion of a Β£28 million payout last year. Although his remuneration at Coinbase hasn't been disclosed, Osborne expressed his excitement about the role, noting the transformative impact of blockchains in finance and Coinbase's leading position in these advancements.
Faryar Shirzad, Coinbase's chief policy officer, expressed enthusiasm about having Osborne join the team, particularly at a time when the company is expanding its presence in the UK and internationally. Shirzad highlighted Osborne's extensive experience in business, journalism, and government as invaluable for Coinbase's growth.
Besides his new role at Coinbase, Osborne holds several other positions, including the president of the Northern Powerhouse Partnership, chair of the British Museum, visiting professor at Stanford's Graduate School of Business, chair of Lingotto Investment Management of Exor group, which has significant stakes in entities like Juventus FC, the Economist, and Ferrari.
Interested in Coinbase's open roles? Check them out here.
