As a seasoned researcher with a keen interest in technology and politics, I find the potential meeting between Brian Armstrong and President-elect Donald Trump intriguing. Given my background, I’ve seen the tech industry’s evolution firsthand, and the intersection of crypto and politics is a fascinating development.
According to reports, it’s said that the CEO of U.S.-based cryptocurrency exchange Coinbase, Brian Armstrong, is set to have a meeting with Donald Trump, who is currently in the process of selecting key personnel for his incoming administration and department heads.
A recent report published in the Wall Street Journal on November 18th suggests that Trump planned to have a private meeting with Armstrong, the CEO of Coinbase, for discussions regarding personnel appointments. It appears that Armstrong did not make any direct donations to Trump’s 2024 campaign or committees specifically backing him. However, before the U.S. election, he stated that the crypto exchange was ready to collaborate with a potential Trump administration.
It’s not certain if Armstrong or an employee from Coinbase might be part of the future US President’s administration. During a Bitcoin 2024 conference in July, Trump (who was then a candidate) expressed his intent to form a “Bitcoin and crypto presidential advisory council” within his first 100 days in office. This council aimed to provide clear, transparent regulatory guidance for the entire cryptocurrency industry’s benefit.
Ever since the election results were made official on November 6th, Donald Trump has been hinting at various prospective members for his administration. He’s even suggested bypassing Senate confirmation to implement them in 2025 if necessary. As of now, the president-elect hasn’t publicly disclosed who he plans to nominate as a potential replacement for Securities and Exchange Commission (SEC) Chair Gary Gensler, whom he has promised to dismiss “on day one.
After the U.S. election, Armstrong shared his endorsement on X for one of Trump’s proposed initiatives: the ‘Department of Government Efficiency’. However, this department doesn’t officially exist unless it’s legislated by Congress. The proposed leadership for this initiative includes Tesla CEO Elon Musk and Vivek Ramaswamy. CryptoMoon attempted to get a comment from Coinbase but didn’t receive a response at the time of their publication.
Brian Armstrong’s shifting positions on US politics
Back in 2020, as a crypto investor, I recall the Coinbase CEO stating that the company would steer clear of any internal advocacy for causes or candidates not directly linked to our mission, as such activities could divert focus from our core purpose. However, it seemed that his stance shifted quite noticeably in 2023, following a Wells notice and subsequent lawsuit from the SEC, accusing us of offering unregistered securities. This change might have been influenced by the need to respond effectively to regulatory scrutiny in the evolving crypto landscape.
Following a SEC Wells notice, Armstrong encouraged crypto enthusiasts to support political candidates who are friendly towards cryptocurrency, with the aim of gaining regulatory certainty within the industry. In 2024, he himself asked his X followers to vote for Republican senatorial candidates in Massachusetts and Pennsylvania.
1) Option A: Coinbase, along with Armstrong, provided approximately $46 million to the Fairshake Political Action Committee (PAC). This was done to back candidates for the 2024 elections who were seen as supportive of crypto policies. Several of these preferred candidates won their primary elections and subsequent races. Furthermore, the exchange has already given $25 million to the PAC with the intention of assisting in the election of pro-crypto candidates during the 2026 U.S. midterm elections.
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2024-11-19 00:43