Exchange of digital coins Coinbase has established a “crypto native think tank” in order to contribute to the worldwide discussion on digital asset policies.
The Coinbase Institute, which was recently established, will also publish crypto and Web3 research.
Hermine Wong, the Exchange’s director of policy, was named the institute’s director. She formerly worked for the Securities and Exchange Commission’s Division of Economic and Risk Analysis and the State Department.
The Coinbase Institute Advisory Board has also been founded, and it will include professors from prominent law and financial schools such as Harvard, MIT, Duke, and John Hopkins, as well as a collaboration with the University of Michigan.
The University of Michigan has done surveys for the United States Census Bureau and the Department of Defense, and will collaborate with Coinbase on an annual poll in the United States that will track cryptocurrency usage and attitude.
The first in a series of “Coinbase Primers,” which are publications that clarify key crypto topics, was released by the institution. On Thursday, it published a paper titled “Crypto and the Climate” to justify the high energy consumption of proof-of-work (PoW) blockchains like Bitcoin.
Coinbase’s efforts to shape the cryptocurrency conversation
The first monthly crypto market insight report, which compared crypto and traditional financial market movements, was also released. Each report will be devoted to a single topic.
Coinbase’s decision to establish the institute is yet another example of the company’s efforts to shape the cryptocurrency conversation. It established a fact-checking platform in May 2021, with CEO Brian Armstrong stating that it would be used “to address disinformation and mischaracterizations about Coinbase or crypto that are being spread around the world.”
In February 2022, the crypto exchange established a political action committee in advance of the US midterm elections on November 8, which will be held on November 8. Coinbase also spent more than $1.3 million lobbying in 2021, the most of any blockchain business that year.
In August 2020, Coinbase split from the Blockchain Association, the crypto industry’s leading lobbying group, reportedly in protest of Binance.US’s admission.
In April 2021, the company, along with Square (now Block) and crypto investment firm Paradigm, founded the Crypto Council for Innovation, with the goal of engaging governments, regulatory bodies, and policymakers on crypto regulation.
The institute hasn’t stated which policies it would support, but it plans to publish more original research that “will provide the public, policymakers, regulators, and academics with a greater knowledge of crypto’s diversity and interconnectedness to the wider economy.”