The White House communications director can’t talk about crypto
The Biden administration’s communications chief has been under strict orders to stay away from crypto and tech companies he has worked with.
President Joe Biden’s communications director, Ben LaBolt, cannot interact with his former crypto clients in any official capacity. LaBolt has previously undertaken communications duties for Uniswap and Andreessen Horowitz, a digital technology-focused venture capital firm.
Finite boundaries of crypto
This order appears to be consistent with that imposed on other senior White House staff. President Biden’s employees must avoid conflicts of interest or the appearance of conflicts of interest when working with businesses they have previously worked for or with. Therefore, for LaBolt, it is forbidden to work with crypto clients, even reliable ones with fixed relationships.
According to an ethics disclosure released Friday, LaBolt has a number of interests in the technology sector. The senior White House staffer also owns shares in Amazon, Apple and Microsoft. Although each, according to the disclosure, amounts to less than $1,000.
Ben LaBolt became communications director in February. He replaced Kate Bedingfield, who had been in the role since President Biden’s inauguration.
His appointment to President Biden’s staff came at a crucial time for the crypto industry. The US government, and in particular the Securities and Exchange Commission (SEC), is under fire for its approach to crypto regulation. Time will tell to what extent LaBolt’s experience in the sector has influenced the White House’s approach to digital assets. However, communications staff rarely have input on policy.
One of the world’s largest exchanges, Coinbase, has openly discussed moving to the UK due to America’s recent turn towards crypto.
LaBolt is an Obama alumnus
LaBolt has worked closely with the Biden administration, advising on communications for Justice Ketanji Brown Jackson’s Supreme Court confirmation and during the transition period. He has previously served as press secretary for Obama’s re-election campaign and as assistant press secretary in the White House. LaBolt also served as communications director for Rahm Emanuel, the former mayor of Chicago.
He worked with Uniswap and others after his departure from the Obama White House. Digital marketing firm Bully Pulpit Interactive acquired his communications business, Incite Agency, in 2016.
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