According to a report from CoinDesk, the results of the November U.S. election led to a significant boost in the wealth of key crypto executives. For example, Coinbase CEO Brian Armstrong made a large profit by selling his company’s shares after the November 5 election.

Armstrong’s stock sales netted him an additional $129 million, and Coinbase’s market value increased by $21 billion. Moreover, Armstrong’s stake in the company increased by nearly $2 billion, and is now valued at $6.4 billion.

Ahead of the election, Coinbase announced a $25 million donation to the Fairshake super PAC. Together, Coinbase and Armstrong have contributed $74 million in political donations, comparable to Ripple and Andreessen Horowitz (a16z).

Under the “Armstrong Plan,” he still owns 10% of Coinbase and about 24 million shares, which are in his trust fund, according to a recent SEC filing.

In a social media post before the election, Armstrong explained that selling his shares was part of a diversification strategy. It allowed him to invest in innovative projects while still maintaining a larger stake in the company.#BtcNewHolder