Coinbase’s CEO Brian Armstrong just sent a shockwave through crypto’s political sphere, endorsing not one, but two Republican candidates for the U.S. Senate. But, unlike in the past, Armstrong is not sitting back; he’s actively pulling for pro-crypto runners to shake up the system.
On Oct. 20, Armstrong took to X (the platform formerly known as Twitter), backing John Deaton, the well-known XRP defender, and David McCormick, ex-Bridgewater Associates chief. Both are running on the Republican ticket—Deaton’s gunning for a Massachusetts seat while McCormick has Pennsylvania in his sights.
Crypto Candidates Spark Armstrong’s Backing
Armstrong’s endorsement of Deaton isn’t just about politics. It’s about sending a signal that crypto advocates need to get loud. He didn’t hold back when targeting U.S. Senator Elizabeth Warren. He claimed Warren pushed for Gary Gensler to lead the Securities and Exchange Commission (SEC) and accused her of actively trying to kill the crypto industry in the U.S. That’s a bold statement, but Armstrong’s been playing the long game. He wants Deaton in the Senate because he believes Deaton can flip the script for crypto.
Armstrong wrote that Warren’s anti-crypto stance echoes China’s financial control model, and he believes Deaton represents the freedom the industry needs. For crypto holders, this isn’t just about one seat—it’s about shaping the entire playing field.
McCormick and the Pennsylvania Play
David McCormick is Armstrong’s other bet. He’s playing in Pennsylvania’s Senate race, and Armstrong’s all-in. In fact, Armstrong didn’t just stop with an endorsement; he pointed to an X poll that showed McCormick leading his opponent and urged Pennsylvanians to support him.
Why McCormick? Simple. Armstrong thinks he’s the best chance to craft friendlier crypto legislation. Both Deaton and McCormick are seen as part of a larger movement to bring real change to U.S. crypto policies, but it’s Armstrong’s pointed attack on Warren that’s really got people talking.
Now, crypto and politics are entwined, and Armstrong’s influence could decide the future for both.
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