Coinbase Execs Join California’s Breakthrough Project to Revolutionize State Operations

California Governor Gavin Newsom has unveiled the California Breakthrough Project, a pioneering initiative aimed at modernizing state operations by collaborating with top cryptocurrency executives. Announced at Ripple's San Francisco headquarters, the project brings together leaders from Coinbase, Ripple, and MoonPay to tackle inefficiencies in procurement, hiring, and public service delivery. Leveraging California's stronghold in AI innovation—home to 32 major AI firms—the advisory group will explore blockchain and digital asset solutions to enhance government efficiency. This public-private partnership marks a significant step toward integrating crypto expertise into state-level operations, signaling growing institutional adoption of blockchain technology. As of July 2025, the project represents one of the most ambitious government-led crypto collaborations in the U.S., with potential to set benchmarks for other states.

California Enlists Crypto Execs to Modernize State Operations

California Governor Gavin Newsom has launched the California Breakthrough Project, tapping executives from Coinbase, Ripple, and MoonPay to streamline government processes. The initiative, announced at Ripple's San Francisco headquarters, targets inefficiencies in procurement, hiring, and service delivery through public-private collaboration.

The advisory group will leverage California's dominance in AI innovation—home to 32 of the world's top 50 AI firms—to pilot new solutions while maintaining privacy standards. Newsom paired the effort with Executive Order N-30-25, mandating faster hiring cycles and simplified IT procurement across state agencies.

Best Crypto To Buy as Coinbase Hits $100B: Trillion-Dollar Era on the Horizon?

Coinbase's market capitalization has surged past $100 billion, marking a significant milestone for the cryptocurrency exchange. The stock closed at $349.01 per share, peaking at $398.50 as Bitcoin reached record highs. This rally reflects broader crypto market recovery and growing mainstream acceptance.

The company's inclusion in the S&P 500 index underscores crypto's staying power. Bitwise CIO Matt Hougan predicts Coinbase could eventually achieve trillion-dollar status. Political support, including from former President Trump, has further bolstered confidence in digital assets.

New regulations and institutional adoption are driving forces behind this resurgence. Circle Internet Group's successful IPO and the establishment of crypto Week for policy discussions have contributed to positive market sentiment.