US President Joe Biden has imposed limitations on his communications director, Ben LaBolt, from handling any matters related to cryptocurrency or technology firms that he previously represented. LaBolt’s former employer, Bully Pulpit Interactive, had several firms, including Uniswap and Andreessen Horowitz, as clients, paying fees exceeding $5,000 per year. LaBolt’s public financial disclosure report shows he holds investments in Bitcoin and Ethereum 2 worth $50,001 to $100,000 and $15,001 to $50,000, respectively. Despite these investments, he will not handle any cryptocurrency or technology firm-related matters, but he will still be allowed to advise on the president’s approach to regulating cryptocurrency and social media firms.
This decision shows the administration’s commitment to avoiding conflicts of interest while promoting transparency and ethical practices in governance. The move also demonstrates the importance of ensuring that individuals with ties to cryptocurrency or technology firms do not have undue influence in policy-making.
