Coinbase Founder: Some Thoughts on the U.S. Election from a Cryptocurrency Perspective
"We only focus on the candidates' positions on cryptocurrency and economic freedom, rather than which party they belong to."Author: Brian Armstrong
Compiled by: Luffy, Foresight News
I want to share some thoughts on the elections from the perspective of increasing economic freedom through cryptocurrency and Coinbase (a very politicized dimension).
In any case, this election is a huge victory for cryptocurrency.
Supporter of cryptocurrency Bernie Moreno defeated Sherrod Brown, which was key to Trump's victory in Ohio. Sherrod is one of the most anti-cryptocurrency senators.
Cryptocurrency received full support from winning presidential candidate Trump.
At the national level, there was a complete denial of Senator Warren and Gary Gensler's years-long attempts to illegally stifle the crypto industry. They should all be held accountable for the Democratic Party's failure (Biden and Harris should also be held accountable for this).
The next Congress will be the most crypto-friendly Congress in history. StandWithCrypto voters showed up in large numbers, helping to elect pro-crypto candidates in almost every district (the House elected 257 pro-crypto candidates).
Washington, D.C. received a clear message that opposing cryptocurrency is a good way to end a career, as it goes against the will of voters who are dissatisfied with the current financial system and want change.
Of course, there were many other factors in this election besides cryptocurrency. Musk may have played the biggest role (his acquisition of Twitter/X marked a turning point). There are many other factors, but I won't elaborate here.
However, I believe the most important message we (American citizens) sent to the government in this election is that we will not build a government that is increasingly large and powerful, will not over-regulate, will not print money excessively, and will not buy votes through free benefits while inflating the deficit. America will follow the path of economic freedom, which is our source of strength, based on limited government, the rule of law, elite politics, and fiscal discipline, respecting the free market (rather than the government) as the source of economic growth, and praising science, technology, and builders as the driving forces of civilizational progress, and so on.
This should not be limited to a particular party. Both parties have excellent pro-business and tech advocates, and the crypto industry supports them. But this does not mean that support should be 50/50, as their support in this election was not equal. I received many angry calls from leftists who were unhappy that our industry did not support the Democratic Party. What they refuse to acknowledge is that more Republicans voted in favor of the FIT21 bill in the House (about 3 to 1), while the legal battles and attacks against cryptocurrency mostly came from the Democratic government. A truly non-partisan PAC should focus solely on candidates' positions on cryptocurrency and economic freedom, rather than which party they belong to. If they fall into partisan thinking, they cannot understand why it is not 50/50 or support their preferred party.
In any case, I am proud that the crypto community has taken a truly principled, non-partisan approach, and I hope that after this election, we no longer see this imbalance. Cryptocurrency should receive support from both sides, and any important new technology or industry that drives American prosperity should as well. We cannot tolerate politicians attempting to illegally destroy our industry or deprive our customers of their rights.
Finally, from a policy perspective, cryptocurrency will continue to exist, and we will keep working until we see reasonable legislation protecting consumers and the industry from attacks. We will see this industry reestablished in the U.S. Coinbase and a16z provided additional funding for Fairshake, which has already used about $78 million in the 2026 midterm elections. StandWithCrypto currently has 1.9 million supporters and has set a growth goal of reaching 4 million supporters by the 2026 midterm elections. They will also expand their efforts internationally, as the industry needs to see similar rules at the G20 or in the broader world. Only through global adoption can cryptocurrency revolutionize the global financial system and increase economic freedom.
I am very proud of the progress the crypto community has made. Now let's pass some reasonable legislation in the U.S. and get back to building!
