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Armstrong highlights election as a turning point for crypto support.
Key Takeaways
Coinbase CEO Brian Armstrong sees Trump's win as a significant boost for crypto and economic freedom. 257 pro-crypto candidates were elected to the House of Representatives in the recent election. <?xml encoding="UTF-8"?>Coinbase CEO Brian Armstrong, celebrated the election results as a significant win for crypto and economic freedom, pointing to key developments that reflect a surge in political backing for digital assets.
— Brian Armstrong (@brian_armstrong) November 6, 2024
“No matter how you slice it, this election was a huge win for crypto,” Armstrong wrote in a post on X.
The election saw crypto supporter Bernie Moreno defeat Sherrod Brown in Ohio, whom Armstrong described as “one of the most anti-crypto senators out there.”
Additionally, 257 pro-crypto candidates were elected to the House of Representatives across both parties.
Armstrong criticized Senator Elizabeth Warren and SEC Chair Gary Gensler, stating they “tried for years to unlawfully kill our industry” and should “take their share of responsibility for the loss of their party.”
Looking ahead, Coinbase and venture firm A16Z have provided additional funding to Fairshake, which now has $78 million allocated for the 2026 midterms.
The StandWithCrypto advocacy group, currently with 1.9 million supporters, aims to reach 4 million advocates by 2026 and expand internationally.
Armstrong reaffirmed that crypto is here to stay from a policy perspective, emphasizing Coinbase’s commitment to advocating for sensible legislation that will protect both consumers and the industry from future regulatory challenges.
He expressed confidence that the crypto industry will continue to grow and establish its roots firmly in the US.
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