Coinbase CEO To Meet Donald Trump Amid Crypto-Friendly Cabinet Selections: Report
Highlights
- Brian Armstrong to meet President-elect Trump to discuss crypto policy and advisory roles in his incoming administration.
- Trump eyes crypto advocates for key positions, including RFK Jr. and Howard Lutnick for Treasury Secretary.
- SEC Chair Gary Gensler's replacement likely as Trump eyes crypto-friendly leadership.
Coinbase CEO Brian Armstrong is set to meet with President-elect Donald Trump as the latter continues to fill key positions in his incoming administration. The meeting is expected to address personnel appointments, particularly for roles tied to cryptocurrency and financial regulation.
Coinbase CEO To Meet Donald Trump
According to The Wall Street Journal, Coinbase CEO Brian Armstrong will meet privately with Donald Trump to discuss staffing decisions for critical positions. These roles are likely to influence cryptocurrency policy in the United States.
While Armstrong has not donated to Trump’s 2024 presidential campaign or supporting political action committees, he previously stated that Coinbase would be ready to work with a Trump administration.
The meeting comes at a time when Trump is actively shaping his cabinet and administration. Brian Armstrong’s participation aligns with Trump’s reported intention to establish a “Bitcoin and crypto presidential advisory council” within his first 100 days in office. This proposed council would aim to develop regulatory clarity for the digital asset industry including a potential Bitcoin reserve, as per Senator Cynthia Lummis.
Crypto Advocates Included in Trump’s Early Cabinet Picks
Apart from Coinbase CEO Brian Armstrong, Trump has already nominated several individuals with favorable views on cryptocurrencies to key positions. These include Robert F. Kennedy Jr. as Secretary of Health and Human Services, Elon Musk, and Vivek Ramaswamy to lead a proposed “Department of Government Efficiency.” All three figures have expressed support for blockchain and cryptocurrency technologies.
Reports suggest that Howard Lutnick, CEO of Cantor Fitzgerald and a known advocate for Bitcoin, is under consideration for Treasury Secretary.
Lutnick’s firm has provided custody services for Tether, the world’s largest stablecoin, and he has publicly discussed its reserves in U.S. Treasuries, Bitcoin, and gold.
Potential Implications for the SEC Leadership
The leadership of the Securities and Exchange Commission (SEC) is also a topic of interest. Trump has vowed to replace current SEC Chair Gary Gensler on his first day in office. Gensler has faced criticism from the crypto community for his enforcement-driven approach to regulation.
Coinbase has been vocal about the need for clear and fair guidelines for digital assets, making Brian Armstrong’s meeting particularly relevant.
Ripple CEO Brad Garlinghouse and Cardano CEO Charles Hoskinson have reportedly also been in contact with Trump’s transition team regarding cryptocurrency-related appointments. These conversations suggest that the incoming administration is actively engaging with industry leaders to shape its policies.
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