Coinbase CEO Brian Armstrong to Meet with President-elect Donald Trump to Discuss Crypto Industry Challenges
Reports have emerged that Coinbase CEO Brian Armstrong is scheduled to meet with President-elect Donald Trump to address the challenges facing the crypto industry under current U.S. regulations and to discuss plans for the upcoming administration.
As the leader of Coinbase, a prominent Nasdaq-listed crypto exchange known for its secure trading services for both retail and institutional investors, Armstrong has been at the forefront of navigating regulatory hurdles in the industry. Last year, Coinbase faced a lawsuit from the SEC for allegedly violating securities laws, and the company has been vigorously defending itself against these charges.
One of the main issues expected to be on the agenda during the meeting is the outdated financial regulations that the SEC applies to crypto companies, which have created significant barriers for the industry. This meeting comes at a crucial time as Trump prepares for his next administration.
Insiders suggest that the meeting may also touch upon potential key appointments for Trump’s term, with former Federal Reserve governor Kevin Warsh being considered for the role of Treasury Secretary. Warsh has reportedly been invited to Mar-a-Lago, Trump’s Florida estate, for an interview regarding the position.
Coinbase’s Post-Election Crypto Trading Volume
Following Trump’s victory in the U.S. presidential election, Coinbase experienced a surge in trading volume.
On November 12, Coinbase became the top-ranked app in the U.S. Apple App Store’s finance category, with a trading volume of $12 billion. This uptick in activity reflects the growing optimism surrounding Trump’s pro-crypto stance.
Coinbase Stock Performance
Coinbase ($COIN) stock has been performing well, currently trading at $325 with a 6.4% increase in the last 24 hours. This uptick in stock price indicates strong investor confidence in Coinbase’s operations and future prospects, despite regulatory challenges.
This period marks a critical juncture for Coinbase and the broader crypto industry, as regulatory uncertainties and potential policy shifts could have a significant impact on their future trajectory.
Read also: Microstrategy Acquires $4.6 Billion Worth of Bitcoin ($BTC)