President-elect Donald Trump is scheduled to meet privately with Brian Armstrong, CEO of Coinbase, one of the United States’ leading cryptocurrency exchanges.
This meeting, reported by The Wall Street Journal, is expected to focus on personnel appointments within the forthcoming administration, particularly concerning roles that will influence cryptocurrency policy.
Armstrong’s engagement with the incoming administration aligns with Trump’s campaign promises to foster a crypto-friendly environment. During the Bitcoin 2024 conference in Nashville, Trump pledged to establish a “Bitcoin and crypto presidential advisory council” within his first 100 days in office. This council aims to develop transparent regulatory guidance to benefit the entire industry.
Source: X
The potential collaboration between Armstrong and the Trump administration marks a notable shift in Coinbase’s political engagement. In 2020, Armstrong declared that Coinbase would refrain from supporting causes or candidates unrelated to its mission to avoid distractions. However, following regulatory challenges, including a Wells notice and subsequent lawsuit from the Securities and Exchange Commission (SEC) alleging the offering of unregistered securities, Armstrong’s stance evolved. He began advocating for the election of pro-crypto candidates to achieve regulatory clarity.
Coinbase’s Political Shift
Coinbase has actively supported political action committees (PACs) favoring crypto-friendly policies. The exchange and Armstrong contributed approximately $46 million to the Fairshake PAC to back 2024 candidates supportive of cryptocurrency initiatives, many of whom secured their races. Additionally, Coinbase has committed $25 million to the PAC for the 2026 midterm elections to continue promoting pro-crypto candidates. The company also promoted Stand With Crypto to get out the crypto vote.
Source: Stand With Crypto
Trump’s pro-crypto stance includes plans to create a strategic national Bitcoin stockpile and appoint industry-friendly regulators. He has also expressed intentions to replace SEC Chair Gary Gensler, whom he criticized for the current administration’s regulatory approach toward cryptocurrencies.
The outgoing Gary Gensler: Source Wikipedia
The upcoming meeting between Trump and Armstrong could significantly influence the regulatory landscape for cryptocurrencies in the United States. As the industry anticipates more favorable policies, this collaboration may pave the way for increased innovation and adoption of digital assets nationwide.
Source: https://bravenewcoin.com/insights/trump-to-meet-with-brian-armstrong