Brian Armstrong, CEO of crypto exchange Coinbase (Nasdaq: COIN), has shared his insights on the impact of recent policy shifts on the cryptocurrency industry following the White House’s first-ever crypto summit. The event, which Armstrong attended, brought together lawmakers and industry leaders to discuss the future of digital assets.
“We just left the digital assets summit at the White House,” Armstrong shared on social media platform X on March 7. The executive added:
It was an incredible event, really a historic moment for our industry, and President Trump has breathed life back into the crypto industry.
He continued: “Coinbase is planning to hire about a thousand people here in the United States this year as a direct result of his [Trump’s] actions already in the first 60 days or so. These policies really matter. And this is the most pro-crypto Congress we’ve ever seen as well. All of you out there help select pro-crypto candidates.”
Crypto-focused super political action committees (super PACs) played a key role in electing candidates who support digital assets. One of the leading Super PACs, Fairshake, has been instrumental in backing pro-crypto lawmakers. Coinbase and other major firms have contributed to Fairshake and similar organizations to shape policy decisions in Washington D.C., ensuring regulatory clarity for the industry.
The summit also came on the heels of a significant executive order from President Donald Trump, directing the establishment of a strategic bitcoin reserve and a broader crypto stockpile. Trump also separately announced a crypto reserve that will include other top cryptocurrencies such as ether (ETH), XRP, solana (SOL), and cardano (ADA).
Armstrong emphasized the importance of codifying the bitcoin reserve initiative into law, arguing that it would provide strategic advantages for the United States in the digital asset sector. “We’re going to keep showing up, trying to be an educational resource, and see if we can get some legislation passed as the next step,” the Coinbase CEO stated.
He noted that both the House and Senate are drafting stablecoin legislation, as well as market structure legislation, to classify crypto assets as commodities, securities, payment tokens, or other categories, such as digital artwork. He shared in a follow-up X post:
Today at the summit, POTUS asked Congress to pass crypto legislation before the August recess. A bipartisan majority in Congress is moving with urgency.
Looking ahead, Armstrong expressed optimism about America’s leadership in the crypto space. “All of us can help as an industry to show up and just appreciate President Trump’s leadership here,” he said, adding: “I think the rest of the G20 are looking at America now on offense in this industry and will be likely to follow suit.”
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