Brian Armstrong, CEO of the crypto exchange Coinbase, reflected on the results of the Nov. 5 election in the United States. 

Not only was Republican Donald Trump elected the 47th president, but the crypto-friendly Republican Sen. Bernie Moreno defeated Democrat Sen. Sherrod Brown in Ohio, who has previously called for crypto crackdowns related to terrorism financing. 

"DC received a clear message that being anti-crypto is a good way to end your career, as it doesn't represent the will of the voters, who are disaffected by the current financial system and want change," Armstrong said on the social media platform X. 

However, prominent crypto critic Sen. Elizabeth Warren, D-Mass., held on to her seat for a third term with nearly 60% of the votes, thus fending off her Republican challenger, cryptocurrency advocate and attorney John Deaton. 

The CEO noted that Coinbase and the venture firm a16z added more funds to Fairshake, a pro-crypto super political action committee (PAC) that has amassed $78 million thus far for use in the 2026 midterms. 

"Crypto is here to stay from a policy POV, and we're going to keep showing up until we see sensible legislation passed which protects consumers, and the industry, from future attacks," said Armstrong. "We are going to see this industry be built in America."

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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