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The CEO of the cryptocurrency exchange platform Coinbase, Brian Armstrong, has declared the US Election “a huge win for crypto” as he wrote an article on the social media platform X.
In the wake of Donald Trump’s win, Armstrong took to the platform to share his thoughts through the lens of crypto and with Coinbase in mind.
Coinbase was founded in 2012 by the CEO and it’s one of the largest cryptocurrency exchange platforms, allowing people to buy, sell, transfer, and store digital currency.
— Brian Armstrong (@brian_armstrong) November 6, 2024
He started by saying: “No matter how you slice it, this election was a huge win for crypto.” Five separate points have been highlighted as to why this is the case, with the first being crypto supporting Bernie Moreno’s win in Ohio.
Moreno defeated Sherrod Brown who has long been unpopular with crypto voters as he has previously voted against pro-crypto legislation and called for more regulation within the sector.
On the other hand, Bernie Moreno has shown his support for the industry for some years now and he even sold some of his car dealerships in 2019 to fund a blockchain startup called Ownum.
Secondly, Armstrong said the industry received “full-throated support of the winning presidential candidate.” Throughout his campaign, Trump has regularly spoken about the sector and urged crypto voters to be on his side.
Third, the CEO writes that “the country fully repudiated the work of Senator Warren and Gary Gensler who tried for years to unlawfully kill our industry. They both should take their share of responsibility for the loss of their party (along with Biden and Harris for letting them run amuck).”
In his fourth point, Armstrong suggests the next congress will be the most “pro-crypto congress ever” which ties into his final point being that “DC received a clear message that being anti-crypto is a good way to end your career…”
‘Crypto is here to stay from a policy POV’ says Coinbase CEO after election
While the future of the industry has been faced with uncertainty over the years, with an ever-shifting landscape of regulation, the Coinbase CEO says: “Finally, crypto is here to stay from a policy POV…”
Expanding further, he said: “…and we’re going to keep showing up until we see sensible legislation passed which protects consumers, and the industry, from future attacks. We are going to see this industry be built in America.”
With Donald Trump promising regularly over the last few months to make the US the ‘global crypto capital,’ all eyes are on him to see what his first moves will be.
Featured Image: AI-generated via Ideogram
