Coinbase, the largest US-based crypto exchange, has appointed George Osborne, a former United Kingdom chancellor of the exchequer, 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.”
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.
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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.
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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