With Donald Trump’s return to the Oval Office, the U.S. crypto industry is witnessing a newfound optimism. At the forefront of this optimism is Brian Armstrong, Coinbase’s CEO, whose net worth surged by over $2 billion to $11 billion following the election. Armstrong’s outspoken reflections on the results, published on X, highlight what he believes to be a pivotal moment for economic freedom and the crypto community’s mission.
A Victory for Crypto and Economic Freedom
Armstrong’s sentiments reflect the euphoria across the crypto sector, buoyed by Trump’s pro-business stance and the victory of crypto-friendly candidates. In his post on X, Armstrong shared his perspective on how the election reshaped the landscape, emphasizing that “being anti-crypto is simply bad politics.” He credited Trump’s full support of crypto as a catalyst and applauded pro-crypto victories like Bernie Moreno’s win over incumbent Democrat Sherrod Brown in Ohio. According to Armstrong, crypto’s backing was a “key factor” in Moreno’s victory, signaling a shift against candidates like Sherrod Brown, known for anti-crypto stances.
Armstrong further celebrated the shift in Congress, where he described the new House as “the most pro-crypto Congress ever,” with 257 pro-crypto candidates securing seats. The message, he suggested, is clear: U.S. voters are disillusioned with the current financial system and want a transition toward innovation, limited government, and economic freedom.
A Decisive Rejection of Anti-Crypto Forces
Armstrong sees the election results as a direct rebuke of Senator Elizabeth Warren and SEC Chair Gary Gensler, both known for their critical stance on crypto. Warren, long a skeptic of digital currencies, and Gensler, who led regulatory crackdowns on crypto, now face significant political fallout. Armstrong’s post bluntly attributed their “anti-crypto lawfare” as a contributing factor to their party’s loss, holding both accountable for alienating pro-crypto voters and business advocates.
The crypto industry’s influence in Washington has grown significantly, with Fairshake, the Coinbase-backed PAC (website), playing a vital role. With nearly 80% of their endorsed candidates winning, Fairshake’s success underscores a coordinated and well-funded strategy aimed at reshaping Congress into a crypto-supportive body. Armstrong is vocal in his endorsement of Fairshake’s non-partisan approach, emphasizing that it selects candidates based on their stance on crypto and economic freedom, rather than party affiliation.
Musk and Armstrong: Allies in the Pro-Crypto Movement
Armstrong’s reflections paid special tribute to Elon Musk, whom he credited as a major influence in the election. “Elon probably played the biggest role,” Armstrong wrote, suggesting that Musk’s takeover of X was a “turning point.” Musk’s alignment with Trump and his vocal support for pro-business policies resonate with Armstrong’s own vision for an economy rooted in innovation and limited government intervention.
The tech industry, particularly Musk and Armstrong, is increasingly entwined with U.S. politics, advocating for policies that align with free-market principles and an openness to emerging technologies. Both Musk and Armstrong are now being rewarded for their pro-crypto stances with a boom in their companies’ valuations as investors eye a friendlier regulatory future.
A Call to Action for Sensible Legislation
Armstrong views this election as a mandate to secure “sensible legislation” for crypto, protecting both consumers and the industry from overreach. He voiced pride in the crypto community’s approach, calling it “principled and non-partisan.” Yet, he’s clear about what won’t be tolerated: “politicians trying to unlawfully destroy our industry.” Armstrong’s vision is that crypto should transcend partisanship, with both sides supporting it as a driving force for prosperity.
Coinbase and other crypto giants like A16Z have already pledged additional funding to Fairshake, with plans to support pro-crypto candidates in future races. In addition, the StandWithCrypto Alliance, with nearly 2 million advocates, aims to double its reach by 2026, expanding its advocacy internationally to promote aligned rules across the G20 and beyond.
Conclusion: The Dawn of a New Crypto Era
In Armstrong’s eyes, this election has set a precedent for crypto’s place in the political mainstream. His message is clear: America is charting a path towards economic freedom, and crypto is leading the charge. For Armstrong, the industry’s recent wins are more than just a triumph for Coinbase or Bitcoin – they mark the beginning of a new era for U.S. tech and finance. With a revitalized commitment to building in the U.S., he sees a future where innovation isn’t hindered by overregulation but celebrated as the backbone of American progress.
As the dust settles, Armstrong and Musk stand as two of the tech titans whose support for Trump may indeed shape a new era in American economic policy – one where crypto and tech industries flourish in the spirit of economic freedom.
