Brian Armstrong, the Coinbase CEO, will meet with Donald Trump to discuss potential advisory council roles and crypto policy.
Brian Armstrong, CEO of Coinbase, is scheduled to meet with President-elect Donald Trump as the latter continues to appoint critical officials to his incoming administration. Personnel appointments, particularly those associated with financial regulation and cryptocurrency, are anticipated to be discussed during the meeting.
The CEO of Coinbase is scheduled to meet with President Donald Trump
As reported by The Wall Street Journal, Brian Armstrong, the CEO of Coinbase, will engage in a private meeting with Donald Trump to deliberate on staffing decisions for critical positions. These roles will probably influence cryptocurrency in the United States.
Armstrong has previously declared that Coinbase would be prepared to collaborate with a Trump administration, even though he has refrained from contributing to Trump’s 2024 presidential campaign or supporting political action committees.
The meeting is scheduled during a period in which Trump is in the process of establishing his cabinet and administration. Brian Armstrong’s involvement is consistent with Trump’s purported intention to establish a “Bitcoin and crypto presidential advisory council” within his first 100 days in office. According to Senator Cynthia Lummis, the objective of this proposed council is to establish regulatory clarity for the digital asset industry, including establishing a potential Bitcoin reserve.
Early Cabinet Picks by Trump Contain Crypto Advocates
Several individuals with favorable opinions regarding cryptocurrencies have been nominated to key positions by Trump and Coinbase CEO Brian Armstrong. These individuals include Robert F. Kennedy Jr. as Secretary of Health and Human Services, Elon Musk, and Vivek Ramaswamy to serve as the head of a proposed “Department of Government Efficiency.” Blockchain and cryptocurrency technologies have garnered the endorsement of all three individuals.
Reports indicate that Howard Lutnick, the CEO of Cantor Fitzgerald and a prominent proponent of Bitcoin, is being considered for the position of Treasury Secretary.
Lutnick’s organization has rendered custody services for Tether, the world’s largest stablecoin, and he has publicly disclosed its holdings in gold, Bitcoin, and U.S. Treasuries.
Potential Consequences for the SEC’s Leadership
The Securities and Exchange Commission (SEC)’s leadership is also a subject of interest. On his first day in office, Trump has pledged to replace Gary Gensler, the current Chair of the Securities and Exchange Commission. The crypto community has criticized Gensler for his enforcement-driven regulatory approach.
Brian Armstrong’s meeting is especially pertinent due to Coinbase’s advocacy for transparent and equitable regulations regarding digital assets.
Additionally, it has been reported that Ripple CEO Brad Garlinghouse and Cardano CEO Charles Hoskinson have engaged in discussions with President Trump’s transition team regarding appointments related to cryptocurrency. These conversations indicate that the incoming administration collaborates with industry leaders to develop its policies.