TLDR:
- Trump and Coinbase CEO Brian Armstrong to meet privately to discuss personnel appointments
- Armstrong previously donated $49 million to crypto-focused PAC Fairshake
- Trump plans to establish a Bitcoin and crypto presidential advisory council within 100 days if elected
- Armstrong publicly supported Hester Peirce as potential SEC chair
- Coinbase has already pledged $25 million for 2026 pro-crypto candidates
President-elect Donald Trump is set to meet with Coinbase CEO Brian Armstrong to discuss personnel appointments for his upcoming administration, marking their first meeting since Election Day.
The meeting comes at a crucial time as Trump works to fill cabinet positions and other senior roles in his administration. Earlier this year, during his appearance at the annual bitcoin conference, Trump announced his intention to create a bitcoin and crypto presidential advisory council, should he win the presidency.
Armstrong’s involvement in political matters has increased substantially over recent years. The Coinbase CEO has been particularly vocal about potential appointments to key regulatory positions. Recently, he publicly endorsed Hester Peirce, a Trump SEC commissioner, as his preferred choice for SEC chair through social media platform X.
The financial backing from Coinbase and Armstrong in political matters has been substantial. Together, they provided at least $49 million to Fairshake, a crypto industry-funded Political Action Committee (PAC), and its affiliated organizations. These PACs collectively spent $131 million during the 2024 election cycle, according to Federal Election Commission filings and OpenSecrets data.
Prior to the election, Armstrong indicated that Coinbase was prepared to work with either administration, showing flexibility in the company’s approach to political engagement. This stance marked a departure from his 2020 position, when he had maintained that Coinbase would not support specific causes or candidates unrelated to the company’s mission.
The evolution of Armstrong’s political engagement appears linked to increased regulatory scrutiny of the cryptocurrency industry. Following a Wells notice from the SEC and subsequent lawsuit against Coinbase for allegedly offering unregistered securities, Armstrong became more actively involved in political advocacy.
In response to regulatory challenges, Armstrong began openly encouraging crypto users to support pro-crypto candidates. His political activity extended to making direct appeals to his social media followers, specifically advocating for Republican candidates in Massachusetts and Pennsylvania Senate races.
Looking ahead, Coinbase has already committed $25 million to the Fairshake PAC to support pro-crypto candidates in the 2026 US midterm elections. This early commitment demonstrates the company’s long-term strategy to influence cryptocurrency policy through political channels.
Trump’s proposed crypto advisory council, planned for implementation within his first 100 days in office, aims to establish clear regulatory guidance for the cryptocurrency industry. This initiative represents a marked shift from previous approaches to cryptocurrency regulation.
The meeting between Trump and Armstrong could have implications for several key appointments, including the position of SEC chair. Trump has previously stated his intention to replace current SEC Chair Gary Gensler on his first day in office.
Armstrong’s public support for specific initiatives proposed by Trump, including the concept of a “Department of Government Efficiency,” suggests potential areas of alignment between the two leaders’ visions for government oversight of the cryptocurrency sector.
The relationship between Coinbase and political advocacy has grown stronger over time. The exchange’s increasing involvement in political funding represents a strategic shift toward actively shaping cryptocurrency policy through direct engagement with political leaders.
Records show that while Armstrong hasn’t made direct contributions to Trump’s 2024 campaign or PACs supporting him specifically, Coinbase’s broader political spending has focused on supporting candidates deemed favorable to cryptocurrency policies.
The upcoming meeting between Trump and Armstrong follows a pattern of increased engagement between cryptocurrency industry leaders and political figures, as the sector seeks clearer regulatory frameworks and government support.
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