Coinbase hires top political strategists as crypto industry shows off its newfound political might | AP News
Coinbase hires top political strategists as crypto industry shows off its newfound political might | AP News
Top Democratic strategist David Plouffe is joining Coinbase as an adviser as the cryptocurrency exchange broadens its political reach.
A senior adviser to Kamala Harris’ 2024 presidential campaign is joining Coinbase’s global advisory council, which already includes several former U.S. senators and President Donald Trump’s ex-campaign manager, as the cryptocurrency exchange broadens its political reach.
David Plouffe, a top Democratic strategist best known as an architect of Barack Obama’s successful 2008 presidential campaign, is the latest addition to the council, joining as the cryptocurrency industry plays an increasingly prominent role in shaping fast-moving legislation in Congress.
The bipartisan involvement reflects how both parties see crypto holders as an important and growing base of potential swing voters they are eager to tap, as well as their efforts to shape — and profit from — the lucrative industry. It also shows the political heft the crypto industry now carries under Trump, with several Democrats and Republicans joining the company’s payroll in order for the company to influence policy how it wishes.
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Cryptocurrency orgs have done one job extremely well here, and that's blatantly demonstrate that the best way to try to fast track legislation is Big Money.
It's like how all the cryptocurrency screwups demonstrate why there are financial regulations to begin with, now they're inadvertently helping demonstrate extremely clearly why we need to get money out of politics.
It is also a demonstration of how letting greedy fools play with themselves is not harmless, because it eventually spills into real life as their lobby pushes for recognition and deregulation. Same with investment banking, the immense greed and grift eventually dwarves the real economy. You either regulate it and prevent mass institutionalized gambling or everyine feels the shock when it explodes.