Coinbase Appoints Ex-UK Chancellor to Advisory Board Amid Lawsuit Tussle

Coinbase has made a strategic move by appointing former UK Chancellor George Osborne to its advisory board. The decision comes as the crypto exchange is facing lawsuits and dealing with disputes with the US Securities and Exchange Commission (SEC). This move by Coinbase signals its efforts to navigate US regulators and expand into international markets. It also indicates the company’s determination to tackle the SEC lawsuit, which has been a significant burden. George Osborne, a former British politician and newspaper editor, brings a wealth of experience to Coinbase. He served as Chancellor of the Exchequer from 2010 to 2016 and played a prominent role in British politics. Coinbase’s battle with the SEC is not its only concern, as the company faces a dicey outlook and uncertainty in the market. JP Morgan recently downgraded Coinbase’s rating, adding to the company’s challenges. With a $2.3 million loss in the third quarter of 2023, Coinbase’s upcoming full-year results will be crucial in assessing the trajectory of the business and associated cryptocurrencies.