Key Takeaways
- Brian Armstrong advocates for global Bitcoin reserves to stabilize economies.
- Coinbase contributed $45M to political campaigns and Trump's inauguration fund.
- Ongoing SEC legal cases may affect Coinbase's influence in crypto policy.
Brian Armstrong, CEO of Coinbase, has called on nations to establish strategic Bitcoin reserves as part of their economic policies.
In a Jan. 17 blog post, Armstrong described Bitcoin as:
The next chapter of capitalism.
He event so far as to compare its foundational role in the digital economy to that of gold.
Highlighting Bitcoin’s potential to shift power balances among nations, Armstrong wrote:
The next global arms race will be in the digital economy, not space.
He also suggested policymakers adopt crypto-friendly laws, develop special economic zones, and prioritize government efficiency.
Coinbase’s growing influence
Coinbase deepened its political ties during the 2024 election, contributing over $45 million to the Fairshake PAC and $1 million to President-elect Donald Trump’s inauguration fund.
Armstrong reportedly met with Trump to discuss policy appointments, signaling the company’s increasing influence in shaping U.S. crypto policy.
The incoming administration has floated plans to make Bitcoin a national priority in 2025, which may include creating a federal Bitcoin reserve.
Legal challenges loom
Despite its policy efforts, Coinbase faces significant legal challenges.
The SEC’s 2023 enforcement action against Coinbase for operating as an unregistered securities exchange remains unresolved.
Meanwhile, Coinbase has filed Freedom of Information Act lawsuits against the SEC and FDIC, alleging attempts to debank crypto firms.
A resolution to these cases could impact Coinbase’s role in shaping Bitcoin-related policies under the new administration.
