News Scrap

Reportedly, Coinbase CEO Brian Armstrong is set to meet with President-elect Donald Trump to address challenges the crypto industry faces under current U.S. regulations and discuss plans for the upcoming administration.

Brian Armstrong leads Coinbase, a prominent Nasdaq-listed crypto exchange known for secure trading services for retail and institutional investors. Last year, Coinbase was sued by the SEC for allegedly violating securities laws, and the company continues to mount a strong defense against these charges.

Armstrong is expected to discuss outdated financial rules that the SEC applies to crypto companies, creating significant barriers for the industry. The meeting comes amidst Trump’s preparations for his next administration.

Insiders suggest that this meeting may also cover potential key appointments for Trump’s term. Meanwhile, Kevin Warsh, a former Federal Reserve governor, is a leading candidate for Treasury Secretary. Warsh has reportedly been invited to Mar-a-Lago, Trump’s Florida estate, for an interview regarding the role.

Coinbase’s Crypto Trading Volume Post Election

Crypto Trading Volume on Coinbase Following Trump’s victory in the U.S. presidential election, Coinbase witnessed substantial momentum.

On November 12, Coinbase became the top-ranked app in the U.S. Apple App Store’s finance category, recording $12 billion in trading volume. This surge reflects growing optimism around Trump’s pro-crypto promises.

Coinbase Stock Performance

Coinbase ($COIN) stock has been performing well. It is currently trading at $325, reflecting a 6.4% increase in the last 24 hours, signalling strong investor confidence. This is showing that the majority of the $Coin stockholders are confident with Coinbase’s operations & future progress, despite regulatory hurdles.

This period marks a pivotal moment for Coinbase and the broader crypto industry as regulatory uncertainties and potential policy shifts could significantly impact their future.