The recent election has been seen as a major victory for the cryptocurrency industry, according to Coinbase CEO Brian Armstrong, who shared his thoughts on the results with a focus on how they align with Coinbase’s mission to promote economic freedom. Armstrong highlighted key wins for crypto in various political races and emphasized that the outcome reflects growing support for crypto-friendly policies across the U.S. political landscape.

One significant result was the victory of Bernie Moreno in Ohio over incumbent Sherrod Brown, known for his vocal opposition to cryptocurrency. Armstrong believes crypto’s backing was crucial in Moreno’s success, sending a clear message against anti-crypto sentiment in Congress. Another positive development for the industry came with the winning presidential candidate’s vocal support for crypto, a shift Armstrong views as a cornerstone for potential national policy changes.

Armstrong also pointed to the decline of influence among prominent anti-crypto figures like Senator Elizabeth Warren and SEC Chair Gary Gensler. Both had aggressively pursued regulatory actions against the crypto industry, and Armstrong argued that these tactics contributed to their party’s losses in this election. He described this as a repudiation of what he considers “unlawful” efforts to hinder the industry’s growth, calling for Warren and Gensler to take accountability for the impact of their actions on their party’s defeat.

This new Congress, with 257 pro-crypto representatives elected to the House, is expected to be the most crypto-friendly in history. According to Armstrong, voters turned out strongly in favor of pro-crypto candidates across both parties, with the industry-backed StandWithCrypto initiative playing a key role in mobilizing support nationwide. This wave of pro-crypto sentiment is more than a political shift; it reflects voters’ dissatisfaction with the current financial system and a collective desire for alternatives, with cryptocurrency as a central part of that vision. Armstrong remarked that the election underscored a risk for politicians: maintaining an anti-crypto stance could jeopardize their careers, as it no longer reflects the will of the people.

While Armstrong acknowledged that factors like Elon Musk’s influence and his acquisition of Twitter (now X) played a role in the election, he believes the most resonant message was an overall rejection of increased government control, over-regulation, and financial dependency. Armstrong emphasized a preference for policies rooted in economic freedom, calling for limited government, fiscal discipline, and technological advancement as pillars of American strength and prosperity.

Despite backing candidates from both major parties, crypto’s support was not evenly split. Armstrong addressed complaints from some Democrats who were frustrated that the industry did not favor their party more heavily, explaining that the industry’s support was driven by candidates’ stances on crypto and economic freedom rather than party affiliation. Armstrong described this as a nonpartisan, principle-based approach that aims to shift politics toward ideologically consistent support for economic freedom, irrespective of party lines.

Looking to the future, Armstrong expressed optimism about the progress crypto can make with this strengthened political backing. He revealed that Coinbase, along with venture capital firm A16Z, has committed an additional $78 million to Fairshake, an organization focused on supporting crypto-aligned candidates in the upcoming 2026 midterms. The StandWithCrypto initiative, which has grown to nearly two million advocates, now aims to double its support base to four million by 2026. Armstrong also noted that StandWithCrypto plans to expand internationally to promote consistent regulatory standards across G20 countries and beyond, further enabling the industry’s global growth.

In reflecting on this election, Armstrong sees it as a decisive moment for cryptocurrency’s future in the U.S., bringing a sense of momentum toward achieving sensible, protective legislation. With an increasingly supportive Congress, he believes the industry is poised to make substantial contributions to the American economy and global financial system, helping drive innovation, freedom, and financial empowerment on an unprecedented scale.

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