Coinbase Boss Supports Pro Crypto US Presidential Candidate

JAKARTA - The US election which will take place in early November is in the spotlight of crypto figures including Coinbase CEO Brian Armstrong. Recently Armstrong emphasized that he would continue to support crypto-friendly policies in the United States even though the results of the upcoming November elections are still uncertain.

He also stressed that efforts to fight for regulations that support the crypto industry in the US will continue to be carried out. The goal is to create a more conducive legal environment for the development of digital assets and strengthen US positions as leaders in the cryptocurrency sector.

Coinbase recently disbursed an additional USD 25 million (approximately IDR 387.5 billion) to Fairshake PAC, an organization that supports pro-crypto candidates in Congress. This initiative aims to strengthen crypto advocacy at the US legislative level, in the hope that policies that support this sector can be realized in the upcoming 2026 election.

Through this latest contribution, Coinbase's total political support reached 75 million US dollars (approximately Rp1,162 trillion), demonstrating the company's serious commitment to forming more in favor of industry crypto regulations.

Not only supporting PAC Fairshake, Coinbase also strengthens relations with Stand with Crypto (SWC), an advocacy group targeting four million members by 2026. According to Fairshake spokesperson Josh Vlasto, the crypto sector wants to play a role in forming regulations that protect consumers through cross-sectoral cooperation. Vlasto added that their goal is to ensure the United States maintain its position as a leader in technological innovation and create new jobs.

On the other hand, Coinbase also announced a partnership with Visa that allows users to fill in their balances to their bank cards instantly. This feature allows transactions all the time, providing new convenience for crypto users on the Coinbase platform.

However, the company's latest quarterly report showed a decrease in revenue due to a decrease in transaction volume, which led to a 27 percent drop in transaction costs. However, Coinbase managed to offset this decline by diversifying revenue through growth in staking services, USDC transactions, and custodial services.