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Coinbase CEO Brian Armstrong has publicly endorsed several pro-crypto Republican candidates for the U.S. Senate ahead of the upcoming November elections. On October 20, Armstrong expressed support for John Deaton, a pro-XRP lawyer running for Senate in Massachusetts, and David McCormick, the former CEO of Bridgewater Associates, who is running in Pennsylvania. Both candidates are seen as favorable toward cryptocurrency policies.
Armstrong’s endorsement of Deaton came as a counter to the incumbent Democratic Senator Elizabeth Warren, whom he criticized for her anti-crypto stance and for appointing Gary Gensler as the chair of the Securities and Exchange Commission (SEC). Armstrong accused Warren of pushing for policies that attempted to stifle the crypto industry in the U.S.
In his endorsement of McCormick, Armstrong highlighted the candidate’s stronger crypto stance compared to his Democratic opponent in Pennsylvania. Both endorsements reflect Armstrong’s focus on advancing policies that support the crypto industry as Coinbase continues to play a prominent role in advocating for favorable regulatory environments.
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Though Armstrong has endorsed Senate candidates, he has not yet endorsed any presidential candidate, stating in August that he expects the next U.S. administration, regardless of the party, to be “constructive” on crypto issues. His company, Coinbase, has gradually become more involved in political advocacy, departing from its earlier “apolitical” stance outlined in Armstrong’s 2020 blog post. This shift was further solidified when Coinbase’s crypto-advocacy initiative, Stand With Crypto, began endorsing political candidates who support crypto-friendly policies in Congress.
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