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COINTURK NEWS > Cryptocurrency News > Brian Armstrong Commits to Supporting Crypto-Friendly Policies After U.S. Elections
Cryptocurrency News

Brian Armstrong Commits to Supporting Crypto-Friendly Policies After U.S. Elections

In Brief

  • Brian Armstrong remains committed to crypto-friendly policies post-elections.

  • Coinbase increases political spending to support crypto advocacy efforts.

  • The new Visa partnership enhances user transaction capabilities significantly.

Ömer Ergin
Ömer Ergin 7 months ago
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Brian Armstrong, CEO of Coinbase, announced that he will continue to support crypto-friendly policies following the U.S. elections. He emphasized that efforts to make U.S. laws favorable to cryptocurrency will persist even after the November elections.

Contents
Additional $25 Million Support to Fairshake PACIncrease in Political SpendingNew Partnership with VisaImpact on Future Regulations

Additional $25 Million Support to Fairshake PAC

Coinbase pledged a new donation of $25 million to Fairshake PAC to support crypto-friendly candidates. This initiative aims to boost cryptocurrency advocacy in Congress and make regulations more favorable to crypto in the U.S. by the 2026 midterm elections.

Increase in Political Spending

This move raises Coinbase’s total political spending to $75 million. Armstrong also mentioned their support for the Stand with Crypto (SWC) advocacy group, which aims to reach 4 million members by 2026.

Fairshake spokesperson Josh Vlasto stated that the crypto sector is committed to leading consumer-protective regulations by forming a sustainable coalition. He added that they are working to ensure the U.S. maintains its leadership in technology and employment.

New Partnership with Visa

Through a recent partnership with Visa, Coinbase now offers users the ability to instantly load money onto their bank cards. This new feature allows users to make transactions 24/7.

In its latest quarterly report, Coinbase reported revenues below expectations due to a decline in transaction volumes, which led to a 27% drop in fees. However, they managed to diversify their revenue streams through growth in staking, USDC transactions, and custody services.

Impact on Future Regulations

These decisive steps by Coinbase aim to politically empower the crypto community. The investments and partnerships seek to enhance the influence of the crypto sector within U.S. politics.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 31 October, 2024 - 10:35 am 31 October, 2024 - 10:35 am
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