Coinbase CEO Praises Trump for Delivering on US Crypto Promise

Coinbase CEO Brian Armstrong asserted that the Trump administration has fulfilled its campaign pledge to support the cryptocurrency industry, marking a sharp break from what he described as years of regulatory resistance under the Biden administration.

Speaking during a podcast interview, Armstrong credited President Donald Trump with actively engaging the crypto sector, prioritizing clear rules, and recognizing digital assets as a strategic economic issue.

“Donald J. Trump campaigned on making the United States the crypto capital of the world, and he’s kept his promises,” Armstrong said. “He’s leaned in and tried to get clear rules and regulations passed so that American companies can thrive and consumers can earn more on their money.”

A Break From the Biden-Era Regulatory Standoff

Armstrong said that under the Biden administration, crypto firms struggled to engage with regulators and often faced enforcement actions without clear guidance.

Interestingly, he recalled traveling to Washington to seek dialogue, but officials turned him away.

Moreover, he noted that the lack of engagement forced many companies to operate under uncertainty or consider moving activity offshore, weakening the United States’ position in digital finance.

Notably, Armstrong pointed to the passage of the Genius Act as the most significant policy achievement under the Trump administration. The law established federal standards for stablecoins, including reserve backing, audits, and compliance requirements.

Furthermore, he added that the law allows platforms to offer stablecoin-based reward programs, enabling consumers to earn returns on their holdings within a regulated framework.

Crypto’s Role in U.S. Global Competitiveness

Armstrong framed crypto policy as a matter of global competition, noting that China has announced plans to pay interest on its central bank digital currency while several major stablecoin issuers remain based offshore.

He also said traditional banks increasingly view crypto as essential to their future rather than a threat.

Additionally, Armstrong concluded that the Trump administration’s approach has created a collaborative environment where banks, crypto companies, and consumers can all benefit.

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