Spring Labs Blockchain Startup Welcomes Gary Cohn, Donald Trump’s Former Advisor

Marco Green
October 16, 2018

Cohn left his position as director of the National Economic Council back in March of this year when he could not agree to President Trump's steel and aluminum tariff plans.

Cohn, whose time at the investment bank spanned 17 years, joins Spring Labs after resigning his appointment at the White house.

The ex Goldman Sachs president will be on Spring Lab board of advisers with Bobby Mehta, former chief executive of United States credit company TransUnion and Brian Brooks, the chief legal officer at Coinbase Brian Brooks.

While elaborating more about his candidature, Cohn has worked as Chief Operating Officer (COO) with American banking giant Goldman Sachs besides having served to the Trump administration.

Fintech startup Spring Labs is now working on a blockchain solution to decentralize identity and credit information. "I am excited to actively support their team in the development of this important business and network".

During his tenure as chief economic advisor to Donald Trump in between 2017-2018, Cohn undertook a variety of responsibility like administering tax reform which came into effect in December 2017. The founders of this company are members of the team and board of Avant, a lending platform.

"When you look at the two challenges Spring Labs has, one is building the technology". The initial use case for the Spring Protocol will facilitate the exchange of identity, fraud, and risk/underwriting information among financial institutions to create a more efficient, transparent, and secure ecosystem for consumer financial data than the one that exists today.

Regarding Cohn's addition to Spring Labs' board, Jiwan said in a statement, "Gary brings a wealth of experience in understanding the complexities of the global financial markets and an unparalleled network".

Spring Labs was incorporated in November 2017 by Chief Executive Adam Jiwan, a former Avant Inc. investor and hedge fund manager at TPG-Axon Capital Management.

Reports from earlier this week point out that Cohn also holds an undisclosed amount of equity in Spring Labs, making him a co-owner in the firm.

Jiwan also hinted that Spring Labs will have more upcoming news, including "some public announcements regarding the development of the network and partnerships in the coming months".

Other reports by Click Lancashire

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