🌋 Brian Armstrong Says Trump’s Win Is a Huge Win for Crypto
posted 7 Nov 2024
Donald Trump’s comeback as the 47th U.S. president is a huge win for the crypto industry, Coinbase CEO Brian Armstrong said in a recent post on X (formerly Twitter).
Looking at the news through a crypto lens, Armstrong expects sensible legislation for the crypto industry to be passed in the U.S.
The Coinbase CEO believes the election results show that voters are dissatisfied with the current financial system. He wrote:
He first mentioned crypto's support for Bernie Moreno’s victory over Sherrod Brown in Ohio, one of the most anti-crypto senators. According to Armstrong, crypto received full support from the winning presidential candidate, and the next Congress will be the most supportive of crypto, with 262 pro-crypto candidates elected.
Note that Donald Trump has actively supported crypto. On October 31, he congratulated Bitcoin supporters on the coin’s White Paper Day, stating Bitcoin “will be made in the USA.”
DC received a clear message that being anti-crypto is a good way to end your career, as it doesn't represent the will of the voters, who are disaffected by the current financial system and want change.
Armstrong listed several ways the crypto industry will benefit from Trump’s presidency.
He first mentioned crypto's support for Bernie Moreno’s victory over Sherrod Brown in Ohio, one of the most anti-crypto senators. According to Armstrong, crypto received full support from the winning presidential candidate, and the next Congress will be the most supportive of crypto, with 262 pro-crypto candidates elected.
Note that Donald Trump has actively supported crypto. On October 31, he congratulated Bitcoin supporters on the coin’s White Paper Day, stating Bitcoin “will be made in the USA.”
Brian Armstrong also stated that the crypto community will continue advocating for clear regulations. He added that Coinbase and a16z contributed around $78 million to the crypto fund Fairshake for use in the 2026 midterms.
The Bitcoin price has surged after the elections. Currently, the coin trades at around $75,000 with over $1.4 billion market cap.
The Bitcoin price has surged after the elections. Currently, the coin trades at around $75,000 with over $1.4 billion market cap.
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