Coinbase CEO to Meet with President-Elect Donald Trump, Disucuss Administration Staff Picks
Brian Armstrong, CEO of the U.S.-based cryptocurrency exchange Coinbase, is set to meet with President-elect Donald Trump as the latter continues shaping his administration and selecting government department heads.
According to a Wall Street Journal report on November 18, the meeting will focus on personnel appointments and potential collaborations with the crypto industry.
Armstrong has not been publicly linked to Trump’s 2024 campaign through direct donations or contributions to political action committees supporting the Republican candidate.
However, prior to the election, he stated Coinbase was prepared to cooperate with a Trump administration if needed.
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Trump Hints at Initiatives Involving Crypto
While it remains uncertain whether Armstrong or other Coinbase representatives could take on roles within Trump’s administration, the president-elect has hinted at initiatives that would directly involve the crypto sector.
During the Bitcoin 2024 conference in July, Trump proposed creating a “Bitcoin and Crypto Presidential Advisory Council” to establish clear regulatory guidelines for the industry within the first 100 days of his presidency.
Since the November 6 election, Trump has announced several potential cabinet picks and even suggested bypassing Senate confirmation to expedite appointments in 2025.
However, he has yet to disclose who might replace Securities and Exchange Commission (SEC) Chair Gary Gensler, whom he pledged to remove on his first day in office.
Armstrong, who has historically kept Coinbase neutral on political matters, has recently taken a more active stance.
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Following the SEC’s Wells notice and subsequent lawsuit accusing Coinbase of offering unregistered securities, Armstrong publicly advocated for electing pro-crypto candidates.
In 2024, Armstrong and Coinbase contributed around $46 million to the Fairshake PAC, a committee focused on electing candidates favorable to cryptocurrency regulation.
As reported, election Day brought major gains for the crypto industry, with Armstrong emerging as one the biggest winners.
Coinbase shares surged 31% on Wednesday, 6 November 2024, marking the best trading day in the company’s history. Armstrong, who co-founded Coinbase in 2012 and took it public in 2021, holds over 10% of the company’s shares.
His stake, comprising 34.8 million Class A and Class B shares, gained approximately $2.1 billion in value, bringing his net worth to nearly $9 billion.
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Cardano Founder Confirms Plans to Collaborate with Trump Administration
In a recent livestream, Cardano founder Charles Hoskinson revealed he is targeting a key position in Trump’s administration.
“Things are very milky, and many discussions are happening, and it’s very clear that I’m going to be involved in some capacity that will influence policy in the United States,” Hoskinson shared during his livestream.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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