Thomas Daniels
Coinbase CEO and co-founder Brian Armstrong has celebrated the outcome of the 2024 U.S. election as a significant triumph for the cryptocurrency sector, forecasting that America will now see “the most pro-crypto Congress ever” along with a supportive administration. This optimism reflects Armstrong’s belief that recent electoral wins by pro-crypto candidates signal a new era for digital assets in the U.S.
In a detailed post on X (formerly Twitter), Armstrong shared his insights, viewing the election “through a crypto lens.” He highlighted the election of several pro-crypto candidates, notably citing Republican Bernie Moreno’s victory in Ohio over incumbent Sherrod Brown, a prominent critic of the crypto industry. Armstrong lauded the gains in Congress, noting that 261 pro-crypto representatives have secured seats, a promising indicator for the sector’s regulatory environment.
The Coinbase CEO also acknowledged the re-election of former President Donald Trump, who has been vocal about his support for cryptocurrencies. Trump pledged to establish a national Bitcoin reserve, replace SEC Chair Gary Gensler, and appoint crypto-friendly regulators—commitments that Armstrong believes will benefit the industry. Armstrong commended the crypto community for its bipartisan stance, though he noted that support leaned more toward candidates who championed cryptocurrency innovation and economic freedom.
In a survey by the Digital Chamber, 16% of voters identified as part of a “Crypto Voting Bloc,” a group cutting across party lines that prioritizes pro-crypto policies. Armstrong attributed Democratic losses to the anti-crypto stance of figures like Senator Elizabeth Warren and Gary Gensler, whom he criticized for opposing the sector. However, despite Warren retaining her seat, Armstrong suggested that anti-crypto politicians may face future electoral consequences in a market climate that increasingly values digital assets.
Projecting forward, Armstrong predicted that crypto policy will play a more central role in the administration’s agenda, advocating for legislation that secures the industry’s growth and protects consumer rights. “I’m super proud of how far the crypto community has come. Now let’s get some sensible legislation passed in the U.S., and get back to building,” he concluded.
