Source: Brian ArmstrongThe president faces scrutiny from lawmakers and industry leaders about his ties to the crypto industry, from his family-backed platform World Liberty Financial to his own memecoin, which was launched in January. Cointelegraph reached out to Coinbase and Armstrong but had not received a response at the time of publication.“It’s not my place to really comment on President Trump’s activity,” said Armstrong in response to concerns about the president’s potential conflicts of interest over stablecoins.
Even with this initiative tied to the exchange and CEO, the focus wasn’t on partisan politics, but “common-sense legislation to protect consumers and their right to crypto.” “Being anti-crypto is a really bad political strategy going into 2024,” said Armstrong in a December 2023 X post, in response to legislation aimed at fighting money laundering with digital assets.
In addition to inauguration events, Armstrong attended a crypto summit at the White House with Trump and other high-level executives and spoke with lawmakers in the Capitol to support bills establishing a regulatory framework for payment stablecoins and crypto markets. Coinbase CEO in the US Capitol rotunda on May 14.
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Author / Journalist: Cointelegraph by Turner Wright
The story "Coinbase CEO's journey from no 'political causes' to hiring DOGE staff" has 1143 words across 43 sentences, which will take approximately 5 - 10 minutes for the average person to read.
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