Regulation
Coinbase CEO Brian Armstrong Preaches Bipartisanship as Trump Touts Crypto Credit – DL News
- Brian Armstrong spoke with Cathie Wood, CEO of Ark Invest, at the State of Crypto Summit on Thursday.
- He emphasized bipartisanship when Wood mentioned Trump and the former president’s support for cryptocurrencies.
Cryptocurrencies in the United States have become political.
However, Coinbase co-founder and CEO Brian Armstrong refused to take sides on Thursday.
Towards the end of a roundtable with Cathie Wood, CEO of Ark Invest, Wood talked about Donald Trump, who he reportedly said he was going to be a “crypto president” at a campaign event in early June.
Trump also met with executives from major Bitcoin mining companies Tuesday.
“He is considered very controversial, obviously, by some people,” Wood said, referring to Trump.
Regardless, the former president’s support for cryptocurrencies has “educated those who haven’t taken a closer look at what this movement represents,” he said. “It’s indicative of the bipartisan nature of this.”
Armstrong responded without mentioning Trump.
“Both sides recognize that they have to address this problem,” he said, later adding: “Cryptocurrencies have arrived.”
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During his discussion with Wood, Armstrong repeatedly emphasized bipartisanship.
He also said he went to Washington to chat with up to 13 senators earlier this week.
Armstrong’s thoughtful attempt to avoid appearing partisan comes amid an ongoing campaign by some of the cryptocurrency world’s wealthiest to make digital assets a national issue.
“We need clear rules in the United States,” he said during the panel with Wood, in reference to cryptocurrency regulation. “The current situation is unsustainable.”
Super PAC
In anticipation of November’s state and national elections, Armstrong, along with a number of other crypto industry movers and shakers, have created a substantial war fund to support pro-crypto candidates.
A political action committee launched in December to support pro-digital asset legislation has raised nearly $93 million in donations, according to FairShake PAC. Federal Election Commission.
Notable donors include the Winklevoss twins, Coinbase, Ripple, Marc Andreessen, and Ben Horowitz.
And in March, Stand With Crypto, a nonprofit launched by Coinbase last year, launched its own PAC, which, once again, plans to support pro-crypto candidates.
Major names in the industry have spoken out in support of former President Trump, including Ryan Selkis, CEO of Messari, and David Bailey, head of Bitcoin Magazine.
Ben Weiss is a Dubai correspondent at DL News. Do you have advice? Send him an email at bweiss@dlnews.com.