Coinbase CEO's journey from no 'political causes' to hiring DOGE staff
Brian Armstrong, CEO of Coinbase, has shifted from promoting an apolitical workplace to engaging with Republican figures, including members of Donald Trump's inner circle. He invited the Department of Government Efficiency (DOGE) team, led by Elon Musk, to implement cost-cutting changes at Coinbase. Armstrong's previous stance against political expression at work contrasts with his recent support for political advocacy, particularly following a Wells notice from the SEC in March 2023. Coinbase launched the Stand with Crypto Alliance in August 2023 to mobilize the crypto community in legislative processes. The organization formed a political action committee (PAC) in May 2024, contributing significantly to federal elections. Armstrong has increased his presence in Washington, meeting with Trump and attending inauguration events. Coinbase's relationship with the SEC improved after the election, leading to the dismissal of enforcement actions. Armstrong's future influence on US government policy regarding cryptocurrency remains uncertain amidst a more favorable regulatory environment.
