Five years ago, Brian Armstrong wanted employees to exchange cryptocurrencies from expressing political views at work. Now it seems that the Coinbase CEO is open to republican involvement, including members of the internal circle of US President Donald Trump.
In the post of May 13, Armstrong he said Members of the Government Department (DOGE), led by Elon Musk, although not established as a real department, would be welcome to the introduction of costs in Coinbase after leaving the US government.
Armstrong offered the establishment of an accelerated implementation process with replacement, responding to an interview in which at least one Doge employee felt excluded with Harvard University, where he was saved.
“If you are looking for the next mission after servicing your country, consider helping to create a more efficient financial system for the world in Coinbase,” said Armstrong.
Since taking a government position in the White House in January, the Musk and Doge team met with criticism of both sides of their cuts, which often forced or dismissed experienced employees without a proper notification.
Defending dog efforts or arduous exemptions in a federal court in a federal court from party accusing illegal or unconstitutional actions.
Coinbase once called a “company focused on a mission”
Armstrong’s comments, suggesting the approval of Doge’s actions, were a pointed departure from the CEO position before the second term of Trump. At that time, many companies and steering staff in California Silicon Valley seemed to be more publicly adapted to democrats.
In 2020, among the Covid-19 pandemic, the death of George Floyd from the hands of policemen in Minneapolis caused nationwide indignation and protests, which prompted many companies to take a public position. Armstrong released At that time, the notification that Coinbase was a “mission -oriented company” that “was not in favor of any specific reasons or candidates.”
In response to Armstrong, he did not support the Black Lives Matter movement, many Coinbase employees organized a strike. CEO replied Claiming that the exchange of cryptocurrencies had a “apolitical culture” and that about 5% of Coinbase employees who “did not feel that they could be on board this direction” adopted the starting package.
Related: Coinbase considered the Bitcoins strategy similar to Saylor before resignation: Bloomberg
Less than a month later, Armstrong sent to the police station suggesting that he could support Kanye West for the President of the US in 2020. After that time, the general director submitted several public statements related to American policy and regulations, although he sought to clarify the cryptographic tax regulations in 2021.
Stand with the crypto approaches political support
It is not completely clear how Armstrong, at least publicly, moved more to be more adapted to political figures. However, in the case of Coinbase, which, as the CEO said, was to be “apolitical”, the change seemed to start more or less at the time when the company received Wells notification from the Securities and Exchange Commission (SEC) in March 2023, suggesting potential enforcement activities.
Armstrong, like many in the cryptographic industry, often had criticized Sec before 2023, for not offering regulatory guidelines to follow, but notification of Wells and the subsequent process seemed to transfer Coinbase from participation in the national political discussion on digital assets to complete support. Business announced Launching the stand with Crypto Alliance in August 2023, the group “focused on mobilizing the cryptographic community to directly involvement in the legislative process.”
Before standing with Crypto, Armstrong used his platform to call cryptographic supporters to contact selected officials on digital bills for assets moving around the Congress. Even on this initiative related to the stock exchange and general director, partisan policy was focused, but “legislation of common sense to protect consumers and their right to cryptography.”
“Being anti -icrypto is a really bad political strategy in 2024.” he said Armstrong at the position of December 10, 2023, in response to regulations aimed at fighting money laundering using digital assets.
https://www.youtube.com/watch?v=av7xioy4zvc
Enter the Trump and the election cycle in 2024.
Unlike elections in 2020, and even in 2022, the 2024 cycle stood out in many ways. For the first time, the presidential candidate openly advocated politicians conducive to cryptocurrencies. The amount of money flowing through companies in the industry, including Coinbase, also reached a record level for federal elections.
Stand with Crypto, as a spokeswoman, was no exception. The group launched its own Political Action Committee (PAC) in May 2024, allowing it to influence the election via media purchases and direct contributions. Although they are standing with cryptocurrencies, still organized in similarly thinking voters, his efforts included focusing on money again.
He stood next to Fairshake Pac, a support committee about $ 45 million with Coinbase and $ 45 million from Ripple, which spent over $ 130 million in the election cycle in 2024. Armstrong personally brought $ 1 million at FairShake.
Although Coinbase, the general director, suggested political preferences, he seemed not to occupy a forceful position on the exchange before the election. In the Coinbase shareholder letter for the third quarter of 2024, the exchange said that “she was prepared to work with any of the administration” in the USA, regardless of whether it means Trump or the democratic candidate of Kamala Harris.
More directed forward in Washington
Armstrong became more present at Capitol Hill and among the members of the Trump administration after the results of the election in 2024. He personally met with the then president-elect in November and reportedly participated in at least one of the inaugural events with other cryptocurrency directors. Coinbase also donated $ 1 million to the Trump inauguration fund.
In February, the stock exchange announced that SEC would abandon its enforcement operation, marking one of the many processes related to cryptocurrencies, which the regulatory authority released under Trump. Armstrong said at that time that the movement was “an important signal about where it was going.”
The general director went to Washington, apparently more often than before this administration. In addition to the inaugural events, Armstrong participated in the peak of cryptocurrencies at the White House with Trump and other high -level managers and talked to the legislators in capitol to support bills establishing regulatory framework for Stablecouins payments and cryptographic markets.
The president faces the control of legislators and industry leaders regarding his connections with the cryptographic industry, from his family platform World Liberty Financial to his own Memecoin, which was launched in January. Cointelegraph contacted Coinbase and Armstrong, but did not receive an answer at the time of publication.
“This is not my place to really comment on the activities of President Trump,” said Armstrong in response to concerns about the potential conflicts of the president’s interests in relation to Stablecouins.
Where the general director accepts Coinbase, and his role in the influence of the US government is just turned out. There are fewer legal burdens and administration, which is seemingly personally affable for the industry and Armstrong.
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