Summary
Brian Armstrong, CEO of Coinbase, has become a powerful leader in the digital-asset industry. With his competitors in prison or facing legal trouble, Armstrong’s influence is growing. He is using his wealth to support crypto-friendly politicians by donating $1 million to the Fairshake super-PAC and having Coinbase contribute $24.5 million. This comes at a crucial time as the US election is described as the most important in the history of cryptocurrency.
Key Points
1. Brian Armstrong has become one of the most powerful leaders in the digital-asset industry, with his main competitors in prison or facing potential imprisonment.
2. Armstrong’s rise to power coincides with the start of the campaign season for a US election that Coinbase has described as the most consequential in crypto’s history.
3. Armstrong is using his own wealth to establish a “war chest” to support politicians who are friendly to the crypto industry, as the industry continues to face pressure from the US government crackdown. He has personally donated $1 million to the Fairshake super-PAC, and Coinbase has contributed an additional $24.5 million.