Donald Trump Will Meet With Coinbase CEO
19 Nov, 2024 ● Crypto News
Brian Armstrong, CEO of the U.S.-based cryptocurrency exchange Coinbase, is reportedly set to meet with Donald Trump as the president-elect continues to announce staff selections for his administration and key government roles.
According to a Nov. 18 report from the Wall Street Journal, Trump plans to have a private meeting with Armstrong to discuss personnel appointments.
While the Coinbase CEO does not appear to have directly contributed to the Republican's 2024 campaign or political action committees (PACs) supporting Trump, he previously mentioned that Coinbase would be ready to work with a Trump administration.
It remains unclear if Armstrong or another Coinbase employee could be considered for a role in the incoming administration.
At the Bitcoin 2024 conference in July, then-candidate Trump stated his intention to form a “Bitcoin and crypto presidential advisory council” within 100 days of taking office, aimed at creating transparent regulatory guidelines for the industry.
Since the election results were announced on Nov. 6, Trump has named several potential administration picks, even suggesting he might bypass Senate confirmation processes in 2025 if necessary.
As of now, he has not publicly disclosed who he would nominate to replace Securities and Exchange Commission Chair Gary Gensler, whom he has vowed to remove “on day one.”
Following the election, Armstrong expressed support on X for at least one of Trump’s proposed initiatives: the “Department of Government Efficiency,” which would require Congressional establishment to become an official department.
This initiative is linked to figures like Tesla CEO Elon Musk and Vivek Ramaswamy. Cointelegraph reached out to Coinbase for comment but had not received a reply at the time of publication.
In 2020, Armstrong stated that Coinbase would not engage in supporting any political causes or candidates unrelated to its mission, to avoid distractions.
However, his stance seemed to change significantly in 2023 after the crypto exchange received a Wells notice from the SEC, followed by a lawsuit alleging the sale of unregistered securities.
In response to the SEC action, Armstrong urged crypto users to “elect pro-crypto candidates” to push for clearer regulations.
By 2024, he had publicly called on his X followers to support Republican Senate candidates in Massachusetts and Pennsylvania.
Coinbase and Armstrong have also committed about $46 million to the Fairshake PAC, backing 2024 candidates perceived as pro-crypto, many of whom secured victories in their primaries and general elections.
The exchange has already donated $25 million to the PAC to assist in electing “pro-crypto candidates” in the 2026 U.S. midterms.
Sources:
https://cointelegraph.com/news/coinbase-ceo-brian-armstrong-donald-trump-meeting
https://x.com/brian_armstrong/status/1858023954776207730
https://www.coinbase.com/blog/coinbase-is-a-mission-focused-company
