The recent U.S. election has sent shockwaves of optimism throughout the cryptocurrency industry, signaling a promising future for digital assets in the nation. Coinbase CEO Brian Armstrong took to social media, declaring the election results a “huge win” for crypto. With an estimated 257 pro-crypto representatives elected to the U.S. House of Representatives, Armstrong believes that the incoming Congress will be the most crypto-friendly in history.
The bipartisan support for cryptocurrency within the new Congress has been a standout achievement. Pro-crypto candidates triumphed across party lines, showcasing the growing influence of digital asset enthusiasts in U.S. politics. Armstrong also criticized the previous administration’s stance on crypto, specifically targeting Senator Elizabeth Warren and SEC Chair Gary Gensler. He accused them of attempts to “unlawfully kill” the crypto industry and argued that their actions contributed to the electoral loss of their party.
Coinbase’s Role In Supporting Pro-Crypto Candidates
Armstrong revealed that Coinbase, along with its advocacy groups, played an instrumental role in backing candidates who prioritize technological innovation and economic freedom. This strategic approach has laid a foundation for future bipartisan support on crypto-related legislation, which could foster a more stable regulatory environment for the industry.
In addition to the election wins, Armstrong highlighted the continued importance of advocacy through initiatives like Fairshake, a political action committee (PAC) partly funded by Coinbase. Fairshake has already secured a substantial $78 million for the 2026 election cycle, with an additional $25 million commitment from Coinbase. These significant financial backing efforts underscore the long-term goal of creating a favorable regulatory framework for cryptocurrencies.
Expanding Crypto Advocacy
Coinbase’s efforts extend beyond the 2024 election cycle, with initiatives like StandWithCrypto aiming to grow its membership base to 4 million by 2026. This expanding network will continue to advocate for policies and regulations that benefit the cryptocurrency sector, further solidifying its presence in U.S. politics.
Also Read: Coinbase Brings Wrapped Bitcoin to Solana, Boosting DeFi Ecosystem
Clarifying Coinbase’s Practices
In response to recent social media concerns, Armstrong addressed rumors regarding Coinbase’s listing fees. He clarified that Coinbase does not charge premium listing fees to projects, which had sparked speculation about unfair practices. Additionally, Armstrong acknowledged the growing role of decentralized exchanges (DEXs) as alternative platforms for projects seeking listing opportunities, reinforcing Coinbase’s commitment to maintaining a diverse and competitive cryptocurrency ecosystem.
As the U.S. crypto landscape continues to evolve, the combination of strong political support, substantial financial backing, and transparent practices positions the industry for significant growth and regulatory stability in the years ahead.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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