Monday, February 14, 2022

Coinbase adds former SEC official

Presented by Natural Allies for a Clean Energy Future: Delivered daily, Influence gives you a comprehensive rundown and analysis of all lobby hires and news on K Street.
Feb 14, 2022 View in browser
 
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By Caitlin Oprysko

Presented by Natural Allies for a Clean Energy Future

With Daniel Lippman  

COINBASE ADDS FORMER SEC OFFICIAL: Crypto exchange Coinbase has added Scott Bauguess as vice president for global regulatory policy as the trading platform continues to expand its policy team ahead of a regulatory crackdown in Washington. Bauguess is currently director for financial market regulation at the University of Texas' McCombs Business School and before that spent a dozen years with the Securities and Exchange Commission, most recently serving as the deputy chief economist.

— Bauguess has already offered his services, providing what Coinbase called "strategic support" for the policy framework for cryptocurrencies that the exchange put forward last fall. That proposal calls for, among other things, forming a new, single regulator to police the rapidly growing digital assets sector, a bold idea that was panned by other crypto and fintech players. Bauguess will remain part of the faculty at McCombs as an adjunct professor, and will "use his extensive expertise to help Coinbase to engage with policymakers and to further our mission to increase economic freedom in the world," according to the company.

— Bauguess is the latest SEC alum to join Coinbase's growing Washington presence. Last month, Coinbase hired Thaya Knight away from the regulator, where she was counsel to one of the agency's commissioners, to become senior public policy manager for capital markets regulatory affairs. Coinbase added a former director and former acting director for the SEC's Division of Trading and Markets last year, as well, though both have since left the company.

— Coinbase has rounded out its ranks over the last year with other industry leaders, like chief policy officer Faryar Shirzad, formerly a top lobbyist at Goldman Sachs; Facebook alum Kate Rouch; and lobbyist Kara Calvert . The exchange's spending on lobbying exploded last year, from $230,000 in 2020 to $1.5 million in 2021. Coinbase has sought to grow its influence footprint in other ways, recently forming a PAC with which it plans to support crypto-friendly candidates in the midterms.

THORN RUN SNAPS UP SIX FROM McALLISTER & QUINN: Half a dozen lobbyists have decamped from McAllister & Quinn to join Thorn Run Partners, expanding the firm's ability to help clients pursue federal funding just as the Biden administration prepares to release hundreds of billions of dollars as part of the bipartisan infrastructure law. Chris Fish, Scott Tominovich and Jessica Venable joined Thorn Run as partners, while Joo Young Lee and Jake Parduhn have joined as vice presidents. Casey Newell joined as a legislative associate.

— The group specializes in representing private companies, universities and health care providers in matters related to federal funding. They'll bring around 30 clients with them, co-founder Andrew Rosenberg said, including Georgetown University, Villanova University, the Kennedy Krieger Institute, the National Center for Manufacturing Sciences and the Connecticut Center for Advanced Technology. In a news release announcing the hires, Rosenberg touted the group's addition as "a game-changer for our firm."

Happy Valentine's Day and welcome to PI. Send tips: coprysko@politico.com. And be sure to follow me on Twitter: @caitlinoprysko.

 

A message from Natural Allies for a Clean Energy Future:

Natural gas is accelerating our transition to a clean energy future. The pairing of natural gas with renewable sources has the potential to reduce carbon emissions by 78%. When available, renewables like solar and wind, eliminate emissions. When these sources are not available, natural gas fills gaps, ensuring affordability and reliability for all Americans while further lowering emissions. Natural gas is accelerating America's clean energy future. Learn more at www.naturalalliesforcleanenergy.org

 

MANCHIN'S RIGHT-HAND MAN HITS K STREET: The Washington Post's Theo Meyer and Jeff Stein have a profile out today that looks at Larry Puccio, the longtime friend and associate of pivotal swing vote Sen. Joe Manchin (D-W.Va.) who is now cashing in on that relationship on K Street. "Barely a month after Democrats reclaimed the Senate last year, turning the ability to sway Manchin into a sought-after skill, Puccio registered for the first time as a federal lobbyist," they write.

— "In less than a year, Puccio has cashed in. He and a partner have lobbied the Senate almost exclusively, according to disclosure filings, pulling in more than $310,000 in addition to his earnings from his extensive state-level lobbying business in West Virginia. Puccio isn't the only Manchin ally who's been lured to K Street — several top lobbying firms snapped up former Manchin aides last year — but he goes back further with Manchin than almost anyone else in politics. With trillions of dollars tied to Manchin's vote, Washington clients have sought out Puccio's guidance on how to influence the West Virginia senator."

— Meyer and Stein write that "Puccio's style complements Manchin's, according to those who know them. Puccio is gregarious and animated — the kind of lobbyist who often asks about family and remembers hobbies. ('Larry's super personable — super personable — you would think he's your best friend,' one longtime West Virginia Democrat said.) In private, critics say, Puccio can be transactional and curt, but even opponents acknowledge he has a keen eye for polling. Talking to MetroNews , Manchin credited Puccio with being able to 'eliminate the political B.S. that goes on. Larry's been able to go through that like a knife through butter.'"

INSURERS ON DEFENSE AS CONGRESS EYES MENTAL HEALTH FIXES: "Democrats, fearing their health care agenda is trapped in limbo, are pivoting to an issue they think will resonate with millions of Americans," POLITICO's Alice Miranda Ollstein and Megan Wilson report: "cracking down on insurers who routinely deny mental health and addiction claims."

— "Congress has attempted to solve the problem at least three times, with laws dating to the mid-90s, but a new federal report shows health insurers regularly violate laws, refusing to pay for mental health and substance abuse services or making patients jump through hoops to get care."

— "Now, the insurance industry and its allies, which have successfully staved off tougher enforcement, are lining up against the measures. The companies are talking with committee chairs and sending letters to key lawmakers to stop a pair of bills, including tougher enforcement such as stiff fines. 'When you have an access problem that is as complicated and multifaceted as mental health care, it would be wonderful if we could find a single silver bullet solution that would solve it,' said Kristine Grow, a spokesperson for America's Health Insurance Plans, the industry's main lobby group. 'But that's just not the reality.'"

— "Insurers bristle at the accusations, telling Congress that they've tried to comply with a complex law and Congress shouldn't slap fines on them. 'Congress should delay additional legislation related to [mental health parity] enforcement,' AHIP wrote in a letter to Sens. Michael Bennet (D-Colo.) and John Cornyn (R-Texas) in an October letter shared with POLITICO. The group argues that the Labor Department should first provide the industry with better examples of how they should document their compliance with the law before moving forward with ways to punish them."

 

STEP INSIDE THE WEST WING: What's really happening in West Wing offices? Find out who's up, who's down, and who really has the president's ear in our West Wing Playbook newsletter, the insider's guide to the Biden White House and Cabinet. For buzzy nuggets and details that you won't find anywhere else, subscribe today.

 
 

TRUMP INC.: "In the year since Mr. Trump has left the White House, he has undertaken a wide-ranging set of moneymaking ventures, trading repeatedly on his political fame and fan base in pursuit of profit," The New York Times' Shane Goldmacher and Eric Lipton write of the former president. "Much as he did while in the White House, Mr. Trump has thoroughly blurred the lines between his political ambitions and his business interests."

— "He has gone on an arena tour with the former Fox News host Bill O'Reilly , where a backstage 'V.I.P. package' sold for more than $7,500. He has published a $75 coffee-table book, after being paid a multimillion-dollar advance by a new publishing company co-founded by his eldest son. He has turned an online Trump store into a MAGA merchandiser, with his company sending marketing missives to people on his 2020 campaign's email list. That store is now selling red 'Make America Great Again' hats for $50 each — a $20 markup from the price currently offered by his political action committee — with all proceeds going to a Trump-owned company."

— "There are grandiose enterprises, such as a fledgling social-media company, whose billion-dollar market capitalization is largely predicated on Mr. Trump's direct personal involvement. And there are smaller ones, like remodeling the lobby bar of Trump Tower in Manhattan and renaming it the 45 Wine and Whiskey Bar — where specialty cocktails range in price up to, yes, $45 (that one comes with two 'American beef sliders') and can be sipped in dark velvet chairs surrounded by Mr. Trump's black-and-white presidential portraits and paraphernalia."

 

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Jobs Report

Kari Grant has joined the British Embassy's Department for International Trade as financial and professional services sector director for North America. Grant most recently handled strategic and industry communications at the Institutional Limited Partners Association, and is a Hamilton Place Strategies, SIFMA, Credit Union National Association and Confederation of British Industry alum.

— The Center for a Humane Economy announced new positions at the national organization, per Morning Ag, including Marty Irby as senior vice president of public policy and communications, Jennifer McCausland as senior vice president of corporate policy, Karen Duarte as director of philanthropy, Natasha Dolezal as deputy director of campaigns, Milton Mills as medical director and Joseph Grove as director of public relations.

Angela Chiappetta is now managing director for business development at Rational 360. She was previously vice president for business development at DDC Public Affairs.

Rosemary Boeglin will be communications director for Sen. Ed Markey (D-Mass.). She previously was director of messaging and advocacy at Building Back Together, and is a Biden White House, transition and campaign alum.

Terra Davis is now president of the fundraising firm Terra Davis Consulting. She previously was a senior associate at WinCo Fundraising.

MacKenzie Morales is joining the U.S. Chamber of Commerce as a content manager in the federal relations and political affairs division. She previously was communications director for Rep. Mike Turner (R-Ohio).

Shira Efron will be director of research at Israel Policy Forum. She previously was a RAND Corporation researcher and special adviser on Israel and a policy adviser to Israel Policy Forum.

Mandy Smithberger is now a defense policy adviser to Sen. Elizabeth Warren (D-Mass.), Playbook reports. She most recently was a director at the Project On Government Oversight and is a Rep. Jackie Speier (D-Calif.) alum.

 

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New Joint Fundraisers

Sherrill Slotkin Victory Fund (Reps. Mikie Sherrill, Elissa Slotkin)
TEAM MEIJER (Rep. Peter Meijer, Ginger PAC, NRCC)

New PACs

Libertad America (PAC)
RIGHT APPEAL PAC (Hybrid PAC)
SECURE OUR FREEDOM ACTION FUND (Super PAC)
Tennessee Future Fund (Super PAC)

New Lobbying Registrations

Acg Advocacy: Wework Management LLC
Ballard Partners: Hard Rock Japan K.K.
Ballard Partners: Vystar Credit Union
Bracewell LLP: Leachco, Inc.
Brownstein Hyatt Farber Schreck, LLP: American Unity Fund
Brownstein Hyatt Farber Schreck, LLP: Institute For Portfolio Alternatives
Cgcn Group, LLC (Formerly Known As Clark Geduldig Cranford & Nielsen, LLC): Alliance Data Systems Corporation
Cgcn Group, LLC (Formerly Known As Clark Geduldig Cranford & Nielsen, LLC): University Startups
Hogan Lovells US LLP: Ai Healthcare Coalition
Holland & Knight LLP: Aon Risk Services, Inc.
Holland & Knight LLP: Illinois Tool Works, Inc.
Holland & Knight LLP: The Catholic Church Extension Society Of The United States Of America
Ml Strategies, LLC: Aircuity, Inc.
Ml Strategies, LLC: Environmental Defense Action Fund
Ml Strategies, LLC: Go-Station
North South Government Strategies, Fka Jdm Public Strategies, LLC: Bell Legal Group
Novocure Inc.: Novocure Inc.
Oak Grove Strategies: American Financial Services Association
Ogilvy Government Relations: Black Women'S Health Imperative
Pck Associates: Leprino Foods
Prairie Road, LLC (Fka Mr. Robert Powers): Treuth Pbc
Steptoe & Johnson LLP: Xb Fulfillment
Taft Stettinius & Hollister LLP Dba Taft Advisors LLC Fka (Taft, Stettinius & Hollister, LLP): Jackson Redevelopment Authority
The Picard Group, LLC: Friends Of The Children
Venable LLP: Visionsafe

New Lobbying Terminations

Ashrae: Ashrae
Hettinger Strategy Group LLC: Onsolve LLC
Ian Reid LLC: Infin, A Financial Services Alliance
Ian Reid LLC: Lifelink Foundation
Margaret Strand Consulting LLC: Mississippi Levee Board

 

A message from Natural Allies for a Clean Energy Future:

Across the country and across our economy, America is building a vital and exciting clean energy future. Natural gas is accelerating this transition and can help us rapidly achieve our climate goals. By partnering with renewable energy sources, natural gas has the potential to reduce carbon emissions by 78%. On its own, natural gas emits 50% less carbon compared to coal, making it a lower-carbon alternative that fills gaps and prevents disruptions whenever sources like solar and wind are unavailable. Existing interstate pipelines for natural gas also offer versatility for transporting hydrogen, renewable natural gas and other zero-carbon fuels of the future. Investing in natural gas infrastructure equips us for continued innovation while ensuring an affordable, reliable transition for all Americans. Natural gas is accelerating our clean energy future. Learn more at www.naturalalliesforcleanenergy.org

 
 

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