Coinbase co-founder and CEO, Brian Armstrong, has officially endorsed two Republican candidates for the upcoming U.S. Senate elections. On October 20, Armstrong went to social media to show his support for former Bridgewater Associates CEO David McCormick seeking a seat in Pennsylvania and pro-crypto attorney John Deaton running in Massachusetts.
Armstrong underlined the need to vote for politicians that embrace cryptocurrencies and said that because of his positive attitude toward digital assets, McCormick is a better option for Pennsylvanians. Armstrong, citing his qualifications and pro-crypto ideas, urged Pennsylvanian voters to support McCormick after reposting a poll showing his leading position.
If you live in Pennsylvania you should vote for @DaveMcCormickPA
— Brian Armstrong (@brian_armstrong) October 20, 2024
He is the better candidate on crypto (among many other credentials) https://t.co/BMFIVwB8NO
In a separate article, Armstrong also backed Deaton’s attempt to take on prominent cryptocurrency critic Senator Elizabeth Warren. Armstrong asserted that Warren played a pivotal role in the appointment of Gary Gensler as the Chair of the Securities and Exchange Commission (SEC), accusing her of pushing policies aimed at undermining the cryptocurrency sector. Warren’s proposals, he said, would jeopardize the American digital financial scene going forward.
Armstrong has not yet backed a presidential candidate; however, he has made his support for these Republican contenders obvious. He previously stated that the future government would likely adopt a more optimistic approach to cryptocurrency control, regardless of the party that wins the presidency.
Agreed – Massachusetts residents should vote for @JohnEDeaton1
— Brian Armstrong (@brian_armstrong) October 21, 2024
Crypto holders in MA should realize @SenWarren is the one who got Gary Gensler his job and encouraged him to (unlawfully) try and kill the crypto industry in America. Luckily they did not succeed as we and others… https://t.co/uLcBzIXyTV
Once known for its apolitical attitude, Coinbase has lately grown more politically active. Armstrong started a blog in 2020, stressing the organization should concentrate on its goal of growing cryptocurrencies and stay away from political discussions. Still, that strategy has changed. Through its Stand With Crypto program, Coinbase is now actively supporting political candidates who support sound crypto policies, thereby influencing the direction of U.S. crypto policy.
Armstrong’s sponsorships reflect the rising political relevance of cryptocurrencies in the United States as more politicians on both sides of the spectrum see the importance of the crypto community as a voting bloc before the November elections.
