White House communications director can’t talk about crypto

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The Biden administration’s communications chief has been given strict orders to keep his distance from the crypto and tech companies he has worked with.

President Joe Biden’s director of communications, Ben LaBolt, cannot interact with his former crypto clients in any official capacity. LaBolt has taken on communications duties for Uniswap and Andreessen Horowitz, a venture capital firm focused on digital technology, in the past.

Crypto out of bounds

This injunction appears consistent with those imposed on other high-ranking White House staffers. President Biden’s staff must avoid conflicts of interest or the appearance of conflicts of interest when dealing with companies for or with whom they have previously worked. Therefore, for LaBolt, working with crypto clients, even trusted ones with entrenched relationships, is off limits.

According to an ethics disclosure released Friday, LaBolt has a number of interests in the tech industry. The senior White House official also owns shares in Amazon, Apple and Microsoft. Although, according to the disclosure, each is less than $1,000.

Ben LaBolt became director of communications in February. He replaced Kate Bedingfield, who had held the post 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 being criticized for its approach to crypto regulation. Time will tell how much LaBolt’s experience in the sector influenced the White House’s approach to digital assets. However, communications staff rarely have a say in policy.

One of the largest exchanges in the world, Coinbase, has openly considered moving to the UK due to the recent U.S. reversal against crypto.

Ben LaBolt is the White House’s first director of gay communications. Source: C-SPANLaBolt is a former student of Obama

LaBolt has worked closely with the Biden administration, advising on communications for the Supreme Court confirmation of Justice Ketanji Brown Jackson and during the transition period. He previously served as press secretary for Obama’s re-election campaign and deputy White House press secretary. LaBolt also served as communications director for Rahm Emanuel, the former mayor of Chicago.

He worked with Uniswap and others after he left the Obama White House. Digital marketing company Bully Pulpit Interactive acquired its communications business, agency Incite, in 2016.

Disclaimer

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