The post Is Crypto’s Future in the US Solidified? Coinbase CEO Weighs In on Election Impact appeared on BitcoinEthereumNews.com.

The recent US elections on November 5 have reshaped the political space and appear to have significant implications for the cryptocurrency industry. Coinbase CEO Brian Armstrong expressed optimism in a post-election “reflection”, emphasizing that the political winds gradually shift toward digital assets. US As A Crypto Hub? Armstrong pointed to the election of figures friendly to the digital currency industry, such as Donald Trump, now the 47th President of the United States, and Republican Sen. Bernie Moreno in Ohio, as key markers of change. Moreno, who defeated Democrat Sen. Sherrod Brown—a known critic of cryptocurrency—represents a pivotal gain for the crypto industry. Brown previously called for stricter digital currency regulations linked to concerns about terrorism financing. Armstrong articulated his views on Elon Musk’s social media platform X, stating, “We are going to see this industry be built in America.” Armstrong added: This next congress will be the most pro-crypto congress ever. StandWithCrypto voters showed up in force to help elect pro-crypto candidates in almost every district on both sides of the aisle. (257 pro-crypto candidates elected in the House). Armstrong also noted the impact of political action committees (PACs) like Fairshake, which have played a prominent role in supporting candidates to the digital currency industry. The pro-crypto PAC has raised $78 million in preparation for the 2026 US midterms, with backing from prominent entities such as Coinbase and venture firm a16z. Armstrong views these political shifts as crucial to promoting a favorable environment for digital currency innovation and growth within the United States. There Is A Catch While the election results signaled a win for digital currency advocates, the political landscape remains complex. Among the key outcomes was the re-election of Sen. Elizabeth Warren, a prominent digital currency critic, who secured a third term with nearly 60% of the vote.…

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Filed under: News - @ November 8, 2024 7:21 am