Brian Armstrong, CEO of Coinbase, has declared a significant victory for the cryptocurrency industry following recent electoral outcomes in the United States.
The election results marked several key achievements, including crypto supporter Bernie Moreno’s victory over anti-crypto Senator Sherrod Brown in Ohio.
Additionally, Armstrong highlighted the election of 257 pro-crypto candidates to the House of Representatives, demonstrating unprecedented bipartisan support for the industry.
This shift in political representation suggests a clear message that opposition to cryptocurrency development could potentially harm political careers.
Industry’s Non-Partisan Approach and Future Strategy
Armstrong emphasized the cryptocurrency industry’s commitment to a principled, non-partisan approach in supporting candidates based solely on their stance on crypto and economic freedom.
While support wasn’t evenly split between parties, this reflected the varying levels of crypto advocacy within each party rather than partisan preference.
The CEO noted that Republican representatives showed stronger support for crypto legislation, particularly in voting for the FIT21 bill, with approximately a 3-to-1 margin compared to Democrats.
This disparity, Armstrong explained, caused some controversy but reflected the industry’s focus on policy positions rather than party affiliation.
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Financial Investment and Advocacy Growth
Looking ahead, Coinbase and venture capital firm A16Z have pledged additional funding to Fairshake, which now has approximately $78 million allocated for the 2026 midterms.Â
The StandWithCrypto movement, currently boasting 1.9 million advocates, has set an ambitious goal to reach 4 million supporters by 2026.
These initiatives are expanding internationally, recognizing the need for consistent regulations across G20 nations and beyond to facilitate global adoption of cryptocurrency and enhance economic freedom worldwide.
Vision for Regulatory Framework and Industry Development
Armstrong envisions a future where cryptocurrency thrives under sensible legislation that protects both consumers and industry interests.
He expressed optimism about building the industry within the United States, emphasizing the importance of establishing clear regulatory frameworks.
The CEO’s message strongly advocated for limited government intervention, rule of law, meritocracy, and fiscal discipline, while celebrating technological innovation and market-driven economic growth.
Armstrong concluded by urging the passage of balanced legislation that would enable the industry to focus on development and innovation.