Coinbase CEO Brian Armstrong is to meet privately with President-elect Donald Trump to discuss staff appointments related to the cryptocurrency business. While Armstrong has not made any direct donations to Trump’s 2024 campaign, he has previously stated that Coinbase is willing to collaborate with a Trump-led administration.
This discussion occurs as Trump is making quick judgments about staffing for his new administration. Trump has already revealed numerous nominations for critical positions, many of which benefit the crypto business. Among the most noteworthy candidates are Robert F. Kennedy Jr. for Secretary of Health and Human Services, and Elon Musk and Vivek Ramaswamy for the new Department of Government Efficiency.
Trump has vowed to establish a “Bitcoin and crypto presidential advisory council” within the first 100 days of his term, and this is likely to be one of the main topics during Armstrong’s meeting. This committee would aim to clarify regulatory requirements for the cryptocurrency business, which is consistent with Armstrong’s request for clearer rules regarding digital assets.
There is also chatter about the replacement of important regulatory personalities, notably the SEC chairman. Trump has stated that he intends to remove current SEC Chair Gary Gensler, who has faced criticism from the crypto community for his regulatory position.
Armstrong’s meeting demonstrates Coinbase’s rising importance in crafting US cryptocurrency policy, particularly as conversations over the responsibilities of crypto proponents in the upcoming administration continue to shift. The exchange’s participation in the discussions indicates that the crypto business may play a larger role in the government’s regulatory approach in the future.
