Coinbase Boss in Spotlight: Private Meeting with Trump Sparks Buzz

The meeting aligns with the president-elect's ongoing process of selecting personnel for government roles and administrative leadership.

While Armstrong has not contributed directly to Trump's 2024 campaign or related political action committees (PACs), he expressed Coinbase's willingness to collaborate with a Trump-led government. This announcement follows Armstrong’s comments about working across administrations to advance the crypto industry's interests.

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The specifics of the meeting remain uncertain, including whether Armstrong or a Coinbase representative might secure a formal position within Trump's administration. Nevertheless, Armstrong’s public stance on political matters has evolved considerably in recent years.

After the 2020 US election, Armstrong maintained a neutral stance, emphasizing that Coinbase would avoid engaging with political causes or candidates unrelated to its mission. However, this approach shifted following regulatory actions from the Securities and Exchange Commission (SEC) in 2023, including a Wells notice and a lawsuit alleging Coinbase offered unregistered securities.

These events spurred Armstrong to take a more proactive stance, urging the crypto community to support pro-crypto candidates in government.

Post-election, Armstrong showed support for an initiative labeled the “Department of Government Efficiency,” which has yet to be formalized as an actual government entity. The idea, linked to figures like Elon Musk and Vivek Ramaswamy, aligns with Armstrong's broader call for streamlined governance.

In other news, Elon Musk’s proposed OpenAI ICO never came to fruition, sparking speculation about its unrealized potential. What stopped the plan from moving forward? Read the full story.