Coinbase CEO to Meet Trump for Discussions on Key Appointments

In a significant development for the cryptocurrency industry, Coinbase CEO Brian Armstrong is set to meet privately with President-elect Donald Trump. The meeting, reported by The Wall Street Journal on Nov. 18, aims to discuss personnel appointments as Trump continues to shape his administration ahead of taking office.

Preparing for the Trump Administration

Armstrong has not made direct donations to Trump's 2024 presidential campaign or associated PACs. However, before the U.S. election, he expressed Coinbase's readiness to collaborate with either a Kamala Harris or Donald Trump administration. This meeting may indicate Armstrong’s increasing involvement in U.S. political and regulatory matters related to the crypto industry.

At the Bitcoin 2024 conference in July, Trump pledged to form a "Bitcoin and crypto presidential advisory council" within his first 100 days in office. This council aims to provide clear regulatory guidelines to support the cryptocurrency sector, signaling his administration's potential openness to fostering crypto innovation.

SEC Leadership and Policy Shifts

As part of his administration plans, Trump has promised significant leadership changes, including replacing SEC Chair Gary Gensler, whom he has vowed to fire on his first day in office. Gensler has been a contentious figure in the crypto industry due to strict regulatory enforcement.

Armstrong has publicly supported at least one of Trump’s proposed initiatives — the creation of a "Department of Government Efficiency" — which would need congressional approval to materialize.

Armstrong’s Political Evolution

The Coinbase CEO's stance on politics has shifted notably in recent years. In 2020, Armstrong stated that Coinbase would remain apolitical, focusing solely on its mission to advance cryptocurrency adoption. However, following a Wells notice and lawsuit from the SEC in 2023, Armstrong became more vocal in advocating for pro-crypto policies.

He has encouraged voters to elect candidates supportive of the cryptocurrency industry and backed the Fairshake PAC, which contributed $46 million to pro-crypto candidates during the 2024 elections. Many of these candidates won their races, and Coinbase has committed another $25 million to the PAC for the 2026 midterms.

Impact on the Crypto Industry

Armstrong's meeting with Trump could signal the potential for greater cooperation between the cryptocurrency industry and the incoming administration. While it remains unclear if Armstrong or a Coinbase representative might hold a formal position in the government, this dialogue could shape policies benefiting the broader crypto ecosystem.

Coinbase declined to comment on the report at the time of publication.

Stay tuned for updates as the story develops.