Coinbase CEO Brian Armstrong says the US election results are a huge victory for the crypto industry.
In a lengthy post on the social media platform
Coinbase bosses say Americans went to polls in part to show their disgust at how Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), and Senator Elizabeth Warren tried to strangle the industry for years.
“The country completely rejected the work of Senator Warren and Gary Gensler, who spent years trying to unlawfully kill our industry…
This next congress will be the most pro-crypto congress ever. Stand With Crypto voters showed up in droves to help elect pro-crypto candidates in nearly every district on both sides of the aisle. (257 pro-crypto candidates elected to the House of Representatives).”
Coinbase-backed digital asset advocacy group Stand With Crypto shows that voters have elected 267 pro-crypto candidates to the House of Representatives and 18 to the Senate, with newly elected President Donald Trump at the helm.
Stand With Crypto gives Trump an “A” rating, meaning the incoming US president strongly supports digital assets.
While the 2024 US elections proved to be a major victory for crypto, Armstrong says the fight is far from over.
“Finally, crypto is here to stay, from a policy (point of view), and we will continue to show up until we see sensible legislation passed that protects consumers and the industry from future attacks. We will see this industry being built in America.
Coinbase and A16Z (Andreessen Horowitz) have contributed additional funding to Fairshake, which already has approximately $78 million to spend in the 2026 interim installments. Stand With Crypto, which currently has 1.9 million advocates, has set a goal to combat the to reach 4 million advocates by 2026.”
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