Key Takeaways
- Trump will meet Coinbase CEO Brian Armstrong on Monday.
- They will discuss regulatory priorities and personnel appointments.
- Coinbase spent over $100 million on political advocacy for Bitcoin.
President-elect Donald Trump is set to meet privately with Coinbase CEO Brian Armstrong on Monday, according to sources familiar with the matter.
The meeting will reportedly focus on personnel appointments for Trump’s second administration and regulatory priorities for the Bitcoin industry.
Background
This marks the first interaction between Trump and Armstrong since Election Day and highlights Trump’s evolving stance on Bitcoin.
Once a vocal skeptic, Trump has now positioned himself as an advocate for the sector.
Earlier this year, he announced plans to establish a Bitcoin and cryptocurrency advisory council if reelected, aiming to craft clear and transparent regulatory guidance.
Coinbase’s influence
Brian Armstrong has been active in shaping the industry’s regulatory landscape.
He recently endorsed Hester Peirce, a Trump-appointed SEC commissioner, as the “best choice” to lead the SEC, stating his position on X. Armstrong’s input is considered significant as Trump’s administration finalizes key cabinet and regulatory appointments.
Coinbase’s political spending
Coinbase has invested heavily in political advocacy, contributing over $100 million to political action committees ahead of the 2024 elections.
A large portion of these funds went to Fairshake, a PAC focused on supporting candidates favorable to crypto.
The PAC spent over $40 million targeting congressional races, according to Federal Election Commission data.
