Coinbase CEO Brian Armstrong And Trump Had Private Meeting To Discuss Crypto Policy

Key Points:

• President-elect Donald Trump privately met Coinbase CEO Brian Armstrong to discuss administration appointments and crypto policies.
• Coinbase and Armstrong contributed over $49 million to crypto-related PACs during the 2024 election cycle.

President-elect Donald Trump met privately with Coinbase CEO Brian Armstrong on Monday to reportedly discuss appointments to his incoming administration, among other crypto-related policies.

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Donald Trump and Coinbase CEO Brian Armstrong Discuss Appointments to Administration

A Wall Street Journal report published on Nov. 18 highlighted the meeting as the first between Trump and Armstrong since Election Day.

Armstrong is the chief executive of San Francisco-based Coinbase, the largest US-based cryptocurrency exchange. He has not directly donated to Trump’s 2024 campaign or any of its supporting PACs. However, in anticipation of this election, Armstrong indicated that he was open to working with a Trump administration.

During his campaign, Trump has promised to create a cryptocurrency advisory panel if he comes into office. At the National Bitcoin Conference in Nashville this year, Trump promised to develop clear and open regulatory standards that would promote more widespread crypto adoption. He even suggested ousting the current SEC Chairman Gary Gensler in favour of “pro-crypto regulation” to drive innovation and new investment into America.

Crypto Industry’s Growing Influence in U.S Politics

Coinbase CEO Brian Armstrong has been vocal about the leadership of the SEC, once naming Hester Peirce, a sitting SEC commissioner, as the “best choice” to chair the agency under the Trump administration. The views of the chief executive of Coinbase align with Trump’s broader pro-crypto stance, signalling potential alignment on industry regulation.

Though Armstrong has not made direct contributions to Trump’s campaign, Federal Election Commission data shows Coinbase and Armstrong donated over 49 million dollars to Fairshake, a PAC supporting the crypto industry, and its affiliates. Fairshake and its associated PACs spent 131 million dollars during the 2024 election cycle.