President-elect Donald Trump is set to meet with Brian Armstrong, CEO of Coinbase, on Monday to discuss personnel appointments for his upcoming administration. This marks the first meeting between the two since Election Day and signals Trump’s continued embrace of the cryptocurrency industry.

A Shift in Trump’s Crypto Stance

Trump, once known for his skepticism toward digital assets, has evolved into a vocal advocate for the cryptocurrency sector. Earlier this year, during a keynote speech at a Bitcoin conference, Trump announced plans to form a Bitcoin and crypto presidential advisory council. The council would be tasked with designing transparent regulatory frameworks for the crypto industry.

Brian Armstrong, who leads one of the world’s largest cryptocurrency exchanges, has been an influential voice in the sector. Following Trump’s victory, Armstrong publicly supported Hester Peirce, a pro-crypto SEC commissioner, as his choice for the next SEC chair. “Hester Peirce is the best choice,” Armstrong stated on X.

Coinbase’s Political Contributions

Coinbase and Armstrong have been active players in political advocacy for the crypto industry. Federal Election Commission filings reveal that Coinbase and its CEO contributed at least $49 million to Fairshake, a crypto industry-funded political action committee (PAC), and its affiliates during the 2024 election cycle. Fairshake and its associated PACs spent $131 million advocating for policies supportive of the crypto industry.

This significant financial involvement underscores the growing influence of crypto stakeholders in shaping policy and regulatory decisions in Washington.

What’s at Stake?

As Trump continues to build his cabinet, Armstrong’s influence could shape key decisions impacting the crypto sector. The meeting signals the administration’s commitment to fostering collaboration between government and industry leaders as the U.S. positions itself in the global cryptocurrency landscape.

With regulatory clarity being a top concern for the crypto industry, Trump’s willingness to engage with leaders like Armstrong marks a potential turning point for the sector.