Coinbase CEO, Brian Armstrong, has stated the exchange’s intention to start donating to pro-crypto candidates in US elections. Moreover, the statement arrives a day after the company received a Wells Notice from the US Securities and Exchange Commission (SEC).
Specifically, Armstrong urged crypto users to “elect pro-crypto candidates.” Additionally noting that the exchange would be working to organize crypto users to support candidates who could positively impact the industry as a whole.
Coinbase CEO Talks Crypto in Politics
Since its inception, the issues between the digital asset industry and regulation have been a constant discourse. Now, as the SEC has ramped up its enforcement action against crypto companies, one of the largest US exchanges has taken a stand to speak for the industry in the political sphere.
Specifically, Coinbase CEO, Brian Armstrong, has announced the exchange’s intention to start donating to pro-crypto candidates in US elections. Moreover, Armstrong called on listeners of a recent Twitter Space to begin using their voice in the political realm.
“What we’re going to do is start putting out content where people can contact their congressman, donate to pro-crypto candidates, show up at town halls, make your voice heard,” Armstrong stated. “We are going to elect pro-crypto candidates in this country to make sure that our success is ensured.”
The decision follows Coinbase reception of a Wells Notice from the SEC, preceding potential enforcement action taken against the exchange. Consequently, following a long line of companies in the regulator’s crosshairs, political action seems to be the best route forward for hte industry.