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Coining a Plan: Coinbase CEO Meets Trump on Policy Picks
- With the dust beginning to settle from Trump’s historic election as US President, the new administration is starting to take shape.
- According to the Wall Street Journal, Trump is set to meet with Coinbase CEO Brian Armstrong to discuss potential policy leaders in the crypto space.
- Despite Armstrong publicly endorsing Hester Peirce, it has been reported privately that she is not interested in the role as head of the SEC.
- Coinbase has a vested interest in a new administration, following a lengthy legal battle with the current Securities and Exchange Commission.
So far so good.
That’s what the crypto community is saying following the election of Donald Trump as the president of the United States. With much of the Republican leader’s campaign built upon reinvigorating the US crypto industry, people watched with anticipation to see if he’d follow through.
It seems Trump is paying attention to the blockchain sector. After a rumoured meeting with Ripple Labs CEO, he is planning to speak with Brian Armstrong, the CEO of Coinbase, about building his administration.
Related: Solana Surges on ‘Overwhelmingly High’ Odds of SOL ETF by End of 2025
Trump and Armstrong to Discuss Potential Replacements for Current SEC Chair Gary Gensler
According to the Wall Street Journal, Trump and Armstrong are set to discuss Web3 policy in the coming day, in particular what the Securities and Exchange Commission will look like going forward.
Previously, Armstrong endorsed Hester Peirce as a potential candidate to replace current SEC Head Gary Gensler – although she seems reluctant to take up the role.
SEC to See Major Shake-up, Crypto Industry Breathes Sigh of Relief
Armstrong and Coinbase have a particular political motive to find a new pro-crypto administration following the exchange’s lengthy lawsuit with the Securities and Exchange Commission.
This is just one of many ongoing legal battles initiated by the SEC and Gary Gensler, most involving the “unregistered sale of securities”.
Related: Trump to Cool Down on Crypto Crackdown, Shifts Justice Focus to Immigration
A new SEC leadership structure under Trump would likely do away with the “regulation by enforcement” tactic that has plagued the modern crypto industry.
The fact that Trump is already engaging with blockchain leaders suggests he intends to follow through on at least some of his promises to the crypto sphere.
Author
Ben Knight
Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.
