Armstrong has supported Senate candidates who are pro-crypto, including Republicans John Deaton and David McCormick, due to their positions on digital asset policies.
Brian Armstrong, the CEO and co-founder of Coinbase, has expressed his support for numerous Republican candidates for the United States Senate in the upcoming November elections.
On October 20, Armstrong appeared on X to express his backing for Senate candidates who are pro-crypto, such as John Deaton, a lawyer who advocates for XRP, and David McCormick, the former CEO of Bridgewater Associates.
Both candidates are competing under the Republican Party banner, with Deaton seeking a Senate seat in Massachusetts and McCormick in Pennsylvania.
In an extra X post on Oct. 20, the CEO of Coinbase also expressed his support for Deaton, a Republican challenger who is actively campaigning to unseat US Democratic Party Senator Elizabeth Warren, who is renowned for her skepticism regarding cryptocurrency.
Armstrong contended that Warren “appointed Gary Gensler as chair of the Securities and Exchange Commission” and “encouraged him to attempt to eradicate the crypto industry” in the United States.
Armstrong wrote, “Fortunately, they were unsuccessful, as we and others responded.” Armstrong has refrained from endorsing a presidential candidate, despite his support for Republican Senate candidates.
Armstrong reportedly asserted in August that the upcoming US administration will be “constructive” regarding cryptocurrency, irrespective of the party that secures the presidency.
“As a significant voting group, cryptocurrency advocates are asserting their influence. Politicians from both political parties have taken notice, and there is a growing momentum to enact comprehensive crypto legislation,” he stated.
Coinbase, one of the major crypto exchanges in the United States, was previously notorious for its “apolitical” posture.
Armstrong’s blog post from 2020, “Coinbase is a mission-focused company,” underscored the significance of the company’s emphasis on its crypto adoption mission and its avoidance of political issues.
Subsequently, the organization has entered the political sector. Stand With Crypto, Coinbase’s crypto-advocacy initiative, declared in May that it would officially support political candidates in the Senate and House of Representatives who advocate for “common-sense crypto policy.”
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