Five years ago, Brian Armstrong wanted to exchange encrypted currencies to refrain from expressing political opinions at work. Now, Coinbase CEO seems open to participate with Republican personalities, including members of the internal circle of US President Donald Trump.
In the May 13 publication, Armstrong He said It will be welcomed by members of the Ministry of Government Efficiency team (DOGE), which is led by Elon Musk, although it has not been created as an actual section, to implement changes to reduce costs in Coinbase after the United States government left.
Armstrong offered to create an accelerated operation on the plane with the stock exchange, in response to an interview in which at least one employee in Dog Balmal from Harvard University, where he was recorded.
“If you are looking for your next mission after serving your country, think about creating a more efficient financial system for the world in Coinbase,” said Armstrong.
Since assuming a government position in the White House in January, the Musk and DOGE team faced criticism from both sides of the corridor for their discounts, which often forced experienced employees or shot experienced employees without a suitable notice.
Judicial cases stop the efforts of Doug or the difficult separation Suspended Of the parties that claim illegal or unconstitutional procedures.
Coinbase is once called a “mission -focused company” company
Armstrong’s comments, indicating the approval of Dog’s actions, are a sharp departure from the position of CEO before Trump’s second state. At that time, many companies and executives in the Silicon Valley in California seemed publicly compatible with Democrats.
In 2020, amid Covid-19, George Floyd’s death motivated at the hands of police officers in Minneapolis anger and protests at the country level, prompting many companies to take a general position. Armstrong Release Notice at that time, saying that Coinbase was a “company that focuses on the mission” did not call for “any certain reasons or candidates.”
In response to Armstrong does not publicly support Black Lives Matter, many Coinbase employees have organized withdrawal. chief executive officer Respond By calling for encryption exchange, it was a “non -political culture” and that about 5 % of Coinbase who “did not feel that they could be on this direction” had accepted an exit package.
Related to: Coinbase is a Silor -like Bitcoin strategy: Bloomberg
Less than a month, Armstrong Re -tweeting post This indicates that Kanye West supports the US President in 2020. Pushed On the rules of encryption tax in 2021.
Stand with Crypto Coinbase’s movements closer to political advocacy
It is not quite clear how Armstrong moves, at least in public places, to be more compatible with political figures. However, for Coinbase, which the CEO said he was aiming to be “non -political”, it seems that the change had started soon from the company Wales notice received From the Securities and Stock Exchange Committee (SEC) in March 2023, indicating a possible enforcement procedure.
Armstrong, like many in the encryption industry, was often criticize SEC before 2023 to not submit organizational guidelines to follow up, but it seems that Wales’s notice and the subsequent case transmits Coinbase from participating in a national political discussion about digital assets to the explicit invitation. Company Declare The launch of the situation with Crypto Alliance in August 2023, the “Mobilization Community Community Group focuses on the legislative process”.
Before standing with encryption, Armstrong Use his platform To invite the encryption supporters to contact their elected officials about the bills of digital assets that move across Congress. Even with this initiative related to exchange and the CEO, the focus was not on party policy, but “Solomon’s legislation to protect consumers and their right to encryption.”
“Being Crypto is a truly bad political strategy in 2024,” He said Armstrong in the December 2023 publication, in response to legislation aimed at combating money laundering with digital assets.
https://www.youtube.com/watch?
Enter Trump and the 2024 election session
In contrast to the 2020 elections to the middle of the period 2022, the 2024 session has emerged in more than one way. For the first time, the presidential candidate was publicly defending the policies that preferred the cryptocurrency. The amount of money flowing from companies in this industry, including Coinbase, has also reached the federal elections to a record level.
Stand with Crypto, as an invitation institution, was no exception. Group Its political action committee launched its own (PAC) in May 2024, allowing it to influence the elections through media purchases and direct contributions. Although Crypto is still organizing similar voters in thinking, its efforts included a renewed focus on money.
Besides Virchkak Bak, a committee Backed by about 45 million dollars From Coinbase and $ 45 million from Ripple, which spent more than $ 130 million in the 2024 election session. Armstrong personally contributed a million dollars in Virchki.
Although Coinbase CEO suggested a political preference, he seemed not to take a strong position on the stock exchange before the elections. In Coinbase’s shareholder for the third quarter of 2024, the stock exchange He said that “Ready to work with any of the administration” in the United States, whether it means Trump or the democratic candidate, Kamala Harris.
More forward in Washington, DC
Armstrong became more than the presence of the Capitol Hill and among the Trump administration members after the results of the 2024 elections. He met with the president -elect at the time In November, it was reported that at least one of the opening events with the executives of the other encrypted currency. Coinbase also donated a million dollars to the Trump installation box.
In February, the stock exchange announced that SEC would be Disclosure of her enforcement workOn the occasion of one of the many cases related to encryption that the organizer rejected during the Trump era. Armstrong said at the time that this step was “an important reference to the place where things are going.”
The CEO to Washington, DC, was apparently more frequent than it was before this administration took power. In addition to the opening events, Armstrong He attended the encryption summit At the White House with Trump and other high -ranking executives and spoke with legislators in Capitol to support bills that create an organizational framework for Stablecoins and encryption markets.
The president faces audit from legislators and industry leaders about his relations with the encryption industry, from the World Liberty Financial platform supported by family to his MEMECOIN, which was launched in January. Cointelegraph has reached Coinbase and Armstrong, but he did not receive a response at the time of publication.
“It is not a right to comment on President Trump’s activity,” Armstrong said in response to this To concerns about the conflict of the potential interests of the president on Stablecoins.
Where Coinbase and his role in influencing the US government still must be seen. There are fewer legal burdens and management that seem friendly for industry and ARMSTRONG personally.
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