Ex-Obama Strategist Joins Coinbase Advisory Council, Signaling Crypto's Growing Mainstream Influence

Crypto Powerhouses Coinbase and Trump Team Up for Bipartisan Influence

Coinbase Taps Democratic Strategist David Plouffe as Crypto Industry Solidifies Political Sway

In a surprising move that underscores the crypto industry's growing political clout, Coinbase has enlisted Democratic strategist David Plouffe to join its Global Advisory Council. The appointment comes as Congress accelerates crypto-friendly legislation, signaling a new era of bipartisan collaboration in the digital asset space.

Plouffe, the architect behind Barack Obama's historic 2008 presidential victory, brings decades of experience at the intersection of government, public policy, and technology. His addition to Coinbase's advisory board follows the recent appointment of Donald Trump's former co-campaign manager, Chris LaCivita, further cementing the exchange's bipartisan appeal.

Courting the "Crypto Voter" Demographic

Speaking at Coinbase's State of Crypto Summit, both Plouffe and LaCivita detailed their respective campaigns' efforts to engage the burgeoning "crypto voter" demographic. The crypto industry spent over $130 million on congressional races in 2024, with Coinbase emerging as the largest contributor to the industry's super PAC.

Plouffe described crypto owners as "pretty politically competitive" swing voters who lean slightly Democratic but are significantly younger. LaCivita, on the other hand, credited the crypto issue with helping Trump reach new demographics, particularly younger and Black voters.

Crypto's Bipartisan Embrace and the "First Crypto President"

The bipartisan embrace of crypto is further underscored by the composition of Coinbase's Global Advisory Council, which now includes former Defense Secretary Mark Esper, former Senators Patrick Toomey and Kyrsten Sinema, and the UK's former Chancellor of the Exchequer George Osborne, among other prominent figures.

In a surprising move, former President Trump addressed the Coinbase summit via video, dubbing himself the "first crypto president" and praising the industry's growth under his administration. Trump's administration has already begun rolling back Biden-era crypto restrictions, including guidance that discouraged crypto investments in retirement accounts.

Navigating the Crypto Regulatory Landscape

Coinbase's strategic appointments come as Congress moves with unusual speed on crypto-friendly legislation. This week, Democrats joined Republicans to advance the Genius Act, a landmark stablecoin regulation bill, with final Senate passage expected next week. A broader crypto market structure bill is also advancing through House committees, signaling a new era of bipartisan cooperation on digital asset policy.

Faryar Shirzad, Coinbase's Chief Policy Officer, emphasized the significance of Plouffe's addition, noting that it "comes on the heels of one of the biggest legislative moments for crypto in U.S. history." As the industry continues to navigate the evolving regulatory landscape, Coinbase's ability to maintain bipartisan support will be crucial in shaping the future of digital assets in America.