Former UK finance minister George Osborne has been appointed to cryptocurrency exchange Coinbase's advisory council.
The San Francisco-based company is trying to expand around the world while facing tough regulatory scrutiny at home from the Securities and Exchange Commission, with a legal battle looming.
Announcing Osborne's arrival, Coinbase said it will be “relying on his insights and experiences as we grow Coinbase around the world”.
The exchange operator highlighted his experience in "business, journalism and government".
“There’s a huge amount of exciting innovation in finance right now,” the former Chancellor of the Exchequer and Evening Standard editor said of his appointment at Coinbase.
“Blockchains are transforming financial markets and online transactions. Coinbase is at the frontier of these developments. I look forward to working with the team there as they build a new future in financial services.”
His appointment is the second in Silicon Valley from the Conservative-Liberal Democrat coalition government under Prime Minister David Cameron, with former deputy PM Nick Clegg president of global affairs at Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB).
Under Cameron, Osborne oversaw a period of severe austerity at HM Treasury, characterised by significant public spending cuts and tax increases, which have been blamed for increased inequality, strained public services and slower economic recovery than might have been achieved with alternative fiscal strategies.
Since leaving government in 2016, the son of baronet Peter Osborne worked in many jobs as well as newspaper editing, including at Blackrock, partner at boutique investment bank Robey Warshaw, chair of the British Museum and chair of Lingotto Investment Management.