President-elect Donald Trump is set to meet privately with Coinbase CEO Brian Armstrong on Monday to discuss potential appointments for his upcoming administration, according to sources familiar with the matter. This meeting will be the first between the two since the Republican candidate’s election victory.
About Trump’s Private Meeting with Coinbase CEO
The upcoming meeting between Trump and Coinbase’s Armstrong could be regarding the crypto regulatory reforms, per a Wall Street Journal report. The meeting highlights a shift in Trump’s stance toward the crypto industry. Once a vocal critic, the president-elect has embraced the sector, expressing strong support for Bitcoin and other digital assets.
During a speech earlier this year at a prominent Bitcoin conference, he pledged to establish a “Bitcoin and crypto presidential advisory council” if elected. The council would aim to create clear and transparent regulatory frameworks for the industry.
Armstrong has already expressed his views on key positions within the federal government. In a recent post on X (formerly Twitter), he named Hester Peirce as his preferred candidate for chair of the Securities and Exchange Commission (SEC). “Hester Peirce is the best choice,” Armstrong stated, referring to the current Trump-appointed SEC commissioner known for her crypto-friendly stance.
Coinbase’s Role in 2024 Elections
Coinbase, one of the largest crypto exchanges in the world, played a significant role in political contributions during the recent election cycle. The company reportedly contributed over $100 million to various political action committees (PACs).
A substantial portion of these funds went to Fairshake, a PAC primarily supported by the crypto industry. The PAC then invested more than $40 million in campaigns targeting Congressional candidates, according to Federal Election Commission records and OpenSecrets data.
Meanwhile, it’s important to note that the meeting between Trump and Armstrong comes as the president-elect works to finalize key roles within his administration. This includes crucial cabinet positions and senior advisory posts.
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