What a difference an election can make. For years, the crypto industry wandered in the political wilderness of the Biden era, while many companies mulled pulling out of the U.S. altogether. Now, fresh off a campaign season that saw crypto leaders spend over $100 million, the industry is welcome in the highest corridors of power in Washington, D.C.
This newfound influence was reflected in a phone call this week between President-elect Donald Trump to Brian Armstrong, founder and CEO of Coinbase. Armstrong and his company poured nearly $50 million into supporting pro-crypto candidates, whose ranks now include Trump, a onetime Bitcoin skeptic who became a full-on convert to digital currency earlier this year.
