Brian Armstrong, CEO of the cryptocurrency exchange Coinbase, intends to meet with Donald Trump to discuss candidates for the new administration of the President of the United States. The Wall Street Journal writes about this

Earlier, Armstrong stated that Coinbase is ready to cooperate with both the Kamala Harris administration and the Trump administration.

What is known

According to the WSJ, Armstrong's meeting with Trump will be held in private. The agenda includes discussion of key appointments in government departments. Against the background of the news release, the shares of the crypto exchange rose by more than 6%.

It is unknown whether the businessman or other employees of the crypto exchange are being considered for specific positions in the Trump administration.

After the November 6 election, Trump presented a number of candidates for his administration, and also threatened to bypass Senate confirmation to speed up appointments. It is unclear who he intends to nominate instead of the current head of the Securities and Exchange Commission (SEC), Gary Gensler, whom Trump promised to fire "on the first day." Presumably, Commissioner Dan Gallagher, who is loyal to the crypt, can take the post.

Read also: What Donald Trump Promised the Crypto Community — 8 Initiatives

In the interests of Armstrong

At the Bitcoin 2024 conference in July, Trump announced plans to create a "Presidential Council on Bitcoin and Cryptocurrencies" to develop transparent regulation of the industry within the first 100 days after taking office. The initiative echoes the work of Coinbase. It is not the first year that the company has been seeking clarification of the rules governing the digital asset market.

Armstrong also supported Trump's initiative to create a "Department of Government Efficiency" (D.O.G.E.), under the leadership of Elon Musk and Vivek Ramaswamy.

Recall that Coinbase is working closely with the authorities. In particular, since 2020, the crypto exchange has been supplying regulators with analytical software that helps track the activity of participants in the crypto community. A year after the start of cooperation with the authorities, Coinbase became the first cryptocurrency company in the United States to gain public status.

The crypto exchange team benefits from being friends with the Trump administration. The initiatives of the politician in many ways echo the interests of the company. Therefore, the meeting of Armstrong, who has been building trusting relations with the authorities for several years, with Trump, who needs the support of experienced cryptans, is a logical step.

The reaction of the crypto community

Representatives of the crypto industry are confident that Armstrong's meeting with Trump can launch a new wave of growth in the digital asset market. Some members of the crypto community suggest that a businessman needs a politician to implement plans to form a bitcoin reserve in the United States. Earlier, the editorial board of BeInCrypto wrote that there were messages on the network that indicate the beginning of work on the initiative.

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