Coinbase appoints ex-UK finance minister George Osborne to chair advisory council

cointelegraphPublicado a 2025-12-18Actualizado a 2025-12-18

Resumen

Coinbase, the largest US-based cryptocurrency exchange, has appointed former UK finance minister George Osborne as the chair of its advisory council. Osborne, who has been an advisor since 2024, views this as an opportunity to learn more about the blockchain revolution and its potential for broadening financial inclusion. His appointment is part of Coinbase's strategy to expand its global influence with foreign governments. Osborne has previously criticized the UK for lagging in crypto regulation and stablecoin development, warning that the British pound risks irrelevance against dominant US dollar-backed stablecoins. This move coincides with Coinbase's broader expansion, including recent acquisitions and new product offerings like tokenized stock trading, prediction markets, and planned perpetual futures contracts, as it aims to become a comprehensive financial services "everything app."

Coinbase, the largest US-based crypto exchange, has appointed George Osborne, a former United Kingdom finance minister, to run the company’s internal advisory council.

The decision to appoint Osborne, who began working as a Coinbase advisor in 2024 during its battle with the US Securities and Exchange Commission (SEC), is part of Coinbase’s strategy of expanding its influence with foreign governments, according to Reuters.

Osborne announced the new lead position on Thursday, framing it as a learning opportunity. He said:

“Serving on Coinbase’s advisory council for over two years, I have seen the blockchain revolution and the potential to spread ownership to many left behind by the system. Chairing it is an amazing opportunity to learn more.”
Source: George Osborne

In August, Osborne penned an op-ed in the Financial Times criticizing the UK for falling behind other jurisdictions in crypto regulations and development.

The lack of development in British pound-pegged stablecoins was a key concern for Osborne, who argued that the pound is at risk of becoming irrelevant as US stablecoins claim the majority of the market share, cementing the dollar’s role as the global reserve currency.

The appointment of Osborne comes at a momentous time for Coinbase, as the company recently acquired other businesses, such as crypto derivatives exchange Deribit, and expanded its product offerings beyond crypto and into traditional asset classes.

Related: Coinbase expands in Poland with Blik mobile payments integration

Coinbase attempts to become a one-stop shop for financial services

Coinbase announced on Wednesday the integration of tokenized stock trading and prediction markets in a bid to become an “everything app” for finance.

Tokenizing stocks and exchange-traded funds (ETFs) enables 24/7 trading and allows these traditional financial assets to be used as collateral in crypto applications.

Coinbase CEO Brian Armstrong announces the suite of new Coinbase features at a livestream event. Source: Coinbase

The exchange has selected Kalshi as the service provider for its upcoming prediction market platform, enabling investors to trade event contracts.

Coinbase also plans to offer perpetual crypto and stock futures sometime in 2026, with up to 50 times leverage available to users.

Perpetual futures contracts do not expire, unlike traditional futures contracts that must be rolled over, and also feature 24/7 trading.

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Criptos en tendencia

Preguntas relacionadas

QWho has Coinbase appointed as the chair of its advisory council?

ACoinbase has appointed George Osborne, the former United Kingdom finance minister, as the chair of its advisory council.

QWhat was one of George Osborne's key criticisms of the UK's financial system in his Financial Times op-ed?

AIn his op-ed, Osborne criticized the UK for falling behind in crypto regulations and development, specifically highlighting the lack of development in British pound-pegged stablecoins as a key concern.

QWhat is one of the new product offerings Coinbase announced to become a 'one-stop shop' for financial services?

ACoinbase announced the integration of tokenized stock trading, which enables 24/7 trading and allows traditional financial assets to be used as collateral in crypto applications.

QWhich company did Coinbase select as the service provider for its prediction market platform?

ACoinbase selected Kalshi as the service provider for its upcoming prediction market platform.

QWhat type of futures contracts does Coinbase plan to offer in 2026, and what is a key feature of them?

ACoinbase plans to offer perpetual crypto and stock futures in 2026. A key feature is that they do not expire, unlike traditional futures, and allow for 24/7 trading with up to 50 times leverage.

Lecturas Relacionadas

The Clarity Act's Journey Through Congress: The Thorny Path of Bipartisan Compromise in the U.S.

The U.S. Congress is struggling to advance the crypto market structure bill known as the Clarity Act, with bipartisan compromise proving difficult. Key hurdles include unresolved disputes over "yield" products and, more critically, the inclusion of strong ethics provisions for elected officials—a non-negotiable demand for many Democrats. While a compromise on yield was reached in May, securing only limited Democratic support in committee, the separate Senate Agriculture Committee version later passed with no Democratic votes due to the ethics impasse. As Republicans push for a full Senate vote in July, demands for ethics rules have expanded, and other contentious issues like developer protections and concerns from law enforcement and large banks further complicate negotiations. Despite consensus on the need for legislation, the path forward is unclear. Recent discussions between senators and White House officials aim to find acceptable ethics language. Some lawmakers question whether a compromise text can garner enough bipartisan support, with one Democrat stating the current proposal lacks the strong ethics provisions required for their vote. Potential short-term goals for the crypto community include symbolic Senate action before the August recess, a longer-term aim for passage by 2026, or establishing a detailed framework that addresses ethics and other compromises. The process remains arduous, relying on the traditional, vote-by-vote effort to build bipartisan support.

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