Coinbase CEO Brian Armstrong predicted a significant political shift toward pro-crypto legislation following the US midterm elections.
According to Armstrong, a more “pro-crypto Congress” is likely to emerge regardless of the election’s outcome.
Brian Amstrong Predicts a Pro-Crypto Congress
The Coinbase executive ascribes the expectation, in part, to the exchange’s substantial financial contributions to crypto advocacy. With this, Armstrong announced an additional $25 million donation to the Fairshake Super Political Action Committee (PAC). The donation supports pro-crypto candidates nationwide and adds to the stockpile of a similar donation in June.
“Today I’m announcing that Coinbase has committed another $25 million to support Fairshake PAC, which they will use leading up to the 2026 midterms to elect pro-crypto candidates,” Armstrong shared on X.
This commitment reflects the growing political influence of the cryptocurrency sector. It comes as Fairshake plans to deploy a total of $160 million to support pro-crypto representatives into 2026. Coinbase’s latest contribution builds upon other substantial financial support for pro-crypto candidates. These include Ripple and venture capital firm a16z, among others, who also donated to Fairshake.
Jump Crypto, another major player in the digital asset space, also recently contributed $10 million to Fairshake. It adds to the collaborative effort among crypto firms to influence US policy. Toward this cause, and as BeInCrypto reported, Fairshake recently pledged to spend an additional $40 million in the current election cycle.
This is amidst a broader campaign against candidates who oppose crypto or have supported restrictive policies. The increased investment aims to unseat some of the most vocal critics of digital assets, including Ohio Senator Sherrod Brown, a known advocate for stricter crypto regulations.
Crypto advocacy groups view these efforts as crucial to shaping a legislative environment more favorable to digital assets and blockchain technology. Beyond financial contributions, Armstrong and Coinbase are also bolstering grassroots support through the Stand With Crypto organization. Reportedly, Stand with Crypto aims to reach four million advocates by the 2026 midterm elections.
“We’re also supporting Stand with Crypto in their stretch goal to reach 4m advocates by the 2026 midterms,” Armstrong added.
This initiative seeks to empower what Armstrong calls the “crypto voter.” This is a growing demographic that cryptocurrency advocates believe will play a significant role in future elections. The crypto executive emphasized that Coinbase and its allies are committed to “protecting customer rights and passing sensible legislation” both in the US and globally. This further highlights the industry’s dedication to regulatory clarity and consumer protection.
The coordinated efforts of Coinbase, Jump Crypto, and other industry leaders signify a focused campaign to elect lawmakers who understand the benefits and challenges of the crypto ecosystem. Similarly, it signifies a broader push for politicians who are likely to support balanced regulatory frameworks. Nevertheless, others like Ripple co-founder Chris Larsen donate to the contrarian side, as he believes Kamala Harris can support the crypto industry through the Democratic Party’s new approach.
“It’s time for the Democrats to have a new approach to tech innovation, including crypto. I believe Kamala Harris will ensure that American technology dominates the world, which is why I’m donating $10 million in XRP in support of her,” Larsen stated.
Meanwhile, Americans continue to watch the clock for November 5, the US election date. Based on Polymarket data, Donald Trump is currently leading with 64.6% four days before the elections.