Crypto exchange Binance announced on Sept. 22 the formation of its new Global Advisory Board (GAB), a strategic council of experts to advise Binance on the regulatory, political and social issues faced by the crypto industry. Former US Senator Max Baucus will lead the Board, alongside a former Obama advisor and policy experts from around the globe.
Led by Max Baucus, former US Senator and Ambassador to China, the Board comprises experts in public policy, government, finance, economics, and corporate governance, such as David Plouffe, former campaign manager and senior advisor to President Obama, Lord Vaizey, UK’s former Minister of State for Culture and the Digital Economy, as well as Bruno Bezard, former head of the French Treasury.
Changpeng ‘CZ’ Zhao, CEO of Binance, commented on the reasons behind the creation of the Board, noting that “with the speed and pace that Web3, cryptocurrencies, and blockchain technology are developing, it’s vital Binance draws on its knowledge, diverse experiences, and backgrounds to help us properly and successfully navigate such a dynamic industry.”
“Both I and Binance as an entity see an inflection point for mass crypto adoption rapidly approaching,” he said in a statement. “With this change clearly on the horizon, Binance’s role as an industry leader needs to be honed and managed with increasing expertise and experience.”
Binance CEO added that it is impossible for a single person “to cover all the areas that need thoughtful, considered decision-making at this pivotal time,” and that “Binance will benefit greatly from input from people with experience across governments and industries, important and strategic relationships, and subject matter expertise.”
Other experts joining the GAB represent Brazil, Mexico, South Korea, Nigeria, South Africa, and Germany, including:
- Max Baucus (USA) – Former U.S. Ambassador to the People’s Republic of China; Former U.S. Senator Montana; Former Chairman of Senate Committee on Finance.
- Ibukun Awosika (Nigeria) – First Female Chairman, First Bank of Nigeria; Founder, The Chair Centre group; Chairman, Nigerian Advisory Board, for Impact Investing and Convention on Business Integrity; Member G7 International Task Force for impact investing; Author of several books.
- HyungRin Bang (Korea) – Advisor of the Korea Presidential Committee; PR/Communications Advisor of Yoon Seuk-Yul’s 2022 Presidential Campaign; Former CEO, SoftForum Inc.; Former Executive Director, Hyundai; Former Executive Director, Samsung.
- Bruno Bézard (France) – Managing partner of Cathay Capital; Former Economic Advisor to the French Prime Minister; Former Head of the French Treasury; Former CEO of the French Government Shareholding Agency.
- Leslie Maasdorp (South Africa) – Vice President and Chief Financial Officer of the New Development Bank. Former MD and President for Southern Africa at Bank of America Merrill Lynch. Former Vice Chairman of Barclays Capital. Former International Adviser to Goldman Sachs.
- Henrique de Campos Meirelles (Brazil) – Former Minister of the Economy, Former President of the Central Bank of Brazil, Former Chair of J&F’s board of directors, Former Member of the Board of Directors of Azul Brazilian Airlines, Former President, Bank Boston; Former President of Global Banking, Fleetboston Financial; Former Board member, Raytheon Corporation, Bestfoods and Champion International. Former Member of the Council of Lloyd’s of London; Former Chairman of Lazard Americas.
- Adalberto Palma (Mexico) – Honorary Board Member of The Aspen Institute Mexico; Former Senior Advisor at the Chief of Staff Office to the President of Mexico; Director of Business Development at BEworksMX Consulting; Former President of the CNBV; Founding Chairman of The Center for Excellency in Corporate Governance. Independent Director of the Institute for Savings Protection; President of Bankers Trust Mêxico, Colombia and Venezuela; Managing Director of Citibank Mexico.
- David Plouffe (USA) – Business, Non-Profit and Political strategist; Author, Member of Various Boards of Directors; Former Campaign Manager Senior Advisor to President Obama in the White House.
- Christin Schäfer (Germany) – Founder and Managing Director of acs plus; Former Group Risk Operating Officer, Erste Group Bank; Former Global Head of Quantitative Solutions, Deutsche Bank, Member of the Data Ethics Commission, German Federal Government.
- Lord Vaizey (UK) – Member of the House of Lords; Former Minister and Member of Parliament.
- David Wright (Europe) – Chair, EUROFI; Former Secretary General, IOSCO, Former European Commission; Deputy Director General Financial markets, European Commission.
Max Baucus, the chair of the newly formed Global Advisory Board, said in a statement: “Of all the technologies with the potential to create positive disruption, the world of crypto, blockchain, and Web3 is among the most exciting and the most promising.”
“That’s why it is a great pleasure to participate in setting up the Binance Global Advisory Board and bringing the group’s unrivaled collective expertise to bear in solving complex problems with a socially positive outcome,” he added.