Coinbase Founder: Some Thoughts on the U.S. Election from a Cryptocurrency Perspective
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Coinbase Founder: Some Thoughts on the U.S. Election from a Cryptocurrency Perspective
We only care about candidates' positions on cryptocurrency and economic freedom, not which party they belong to.
Navigating Web3 tides with focused insightsWritten by: Brian Armstrong
Translated by: Luffy, Foresight News
I want to share some thoughts on the election from the perspective of cryptocurrency and Coinbase’s mission to increase economic freedom—a very political dimension.
Regardless, this election was a massive win for cryptocurrency.
1. Bernie Moreno, a pro-crypto candidate, defeating Sherrod Brown was key to Trump's victory in Ohio. Sherrod was one of the most anti-crypto senators.
2. Cryptocurrency received full support from Donald Trump, the winning presidential candidate.
3. At the national level, there was a clear rejection of Senator Warren and Gary Gensler’s years-long attempt to illegally suffocate the crypto industry. They—and also Biden and Harris—should be held accountable for the Democratic Party’s losses.
4. The next Congress will be the most crypto-friendly in history. StandWithCrypto voters turned out in large numbers, helping elect pro-crypto candidates in nearly every district (257 pro-crypto members elected to the House).
5. Washington, D.C. has received a clear message: opposing crypto is a career-ending move, as it goes against voter will—voters who are dissatisfied with the current financial system and want change.
Of course, many other factors shaped this election beyond crypto. Musk may have played the biggest role (his acquisition of Twitter/X marked a turning point). There were many other dynamics at play, which I won’t go into here.
But I believe the most important message we—the American people—sent to government in this election is that we will not accept ever-larger, more powerful government, excessive regulation, massive money printing, or buying votes through endless free benefits while driving up deficits. America will return to the path of economic freedom—our source of strength—built on limited government, rule of law, meritocracy, fiscal discipline, respect for free markets (not government) as the engine of growth, and admiration for science, technology, and builders as the drivers of civilizational progress, and so on.
This should not be confined to one party. Both parties have strong pro-business and pro-technology advocates, and the crypto industry supports them. But that doesn't mean support should be 50/50—because in this election, the support wasn't equal. I’ve received angry calls from many on the left upset that our industry didn’t back Democrats. What they refuse to acknowledge is that far more Republicans voted in favor of the FIT21 bill in the House (roughly 3 to 1), and nearly all the legal attacks and hostility toward crypto have come from the Democratic administration. A truly nonpartisan PAC focuses only on a candidate’s stance on crypto and economic freedom—not their party affiliation. If they think in partisan terms, they won’t understand why support isn’t 50/50 or why we don’t automatically back their preferred party.
In any case, I’m proud that the crypto community took a principled, nonpartisan approach. And I hope after this election, we’ll no longer see such imbalance. Cryptocurrency deserves bipartisan support—and so should any major new technology or industry vital to America’s prosperity. We cannot tolerate politicians trying to illegally destroy our industry or strip rights from our customers.
Finally, from a policy standpoint, crypto is here to stay. We’ll keep pushing until we achieve sensible legislation that protects both consumers and the industry from attacks. We will rebuild this industry in the United States. Coinbase and a16z have provided additional funding to Fairshake, which has already spent around $78 million toward the 2026 midterm elections. StandWithCrypto currently has 1.9 million supporters and has set a goal to reach 4 million by the 2026 midterms. They will also expand efforts internationally, because the industry needs consistent regulations across the G20 and the broader world. Only through global adoption can crypto revolutionize the global financial system and expand economic freedom.
I’m incredibly proud of the progress the crypto community has made. Now let’s get some sensible legislation passed in the U.S., and then get back to building!
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