The Goldman Sachs senior lobbyist has joined Coinbase as their new boss, promoting a cryptocurrency exchange in Washington while US regulators are concerned about the rules on the crypto sector.
Faryar Shirzad will start in Coinbase next month after spending 15 years with Goldman, where he was the head of state affairs.
“As chief executive officer, Faryar has partnered with policymakers, regulators and other legal professionals to recognize the full potential of crypto revenue generation and performance, GDP growth and technology,” Coinbase said Monday.
The position is a new position at Coinbase, the company said.
Hirzad hiring comes at a difficult time for Coinbase. Last month, the company ended up writing on Nasdaq in the stock market that reached almost $ 75bn, amid rising prices for bitcoin and other cryptocurrensets. While trading was seen as an important moment in digital currency and business certainty.
However, Coinbase’s share price has fallen by almost a third-quarter since then crypto prices fell on indications that China is preparing to destroy digital tokens, along with a steady stream of warnings from other regulators around the world of their dangers.
For example, the new chairman of the US Securities and Exchange Commission, Gary Gensler, earlier this month said The crypto market is “one that can benefit from greater commercial security”.
Coinbase said in its list of years that the uncertainty surrounding cryptocurrencies around cryptocurrencies is a major risk.
“We have a lot of rules and regulations and any changes, or our failure to comply with any laws and customs can affect our race, our reputation, our business, our results and our economic situation,” he said.
Prior to joining Goldman Sachs, Shirzad held a number of positions at the George W Bush White House, including a deputy for national security adviser.
A Goldman spokesman declined to comment on Shirzad’s actions.