Brian Armstrong, the co-founder and CEO of the largest American cryptocurrency exchange, Coinbase, believes being anti-crypto could have ugly political effects in the upcoming United States elections in 2024.
In a Tuesday tweet, Armstrong stated that taking a stand against the novel technology would be “a really bad political strategy” for several reasons, blasting well-known crypto critic Democratic Senator Elizabeth Warren and Republican Senator Roger Marshall for “lobbying for big banks.”
A Bad Political Strategy
The Coinbase CEO outlined the upsides of the crypto industry, including just 9% of Americans being satisfied with the traditional financial system. He added that 38% of young people believe crypto could increase economic opportunities, while over 52 million Americans own and have used crypto for one activity or another.
In addition, the prices of crypto assets have increased by 90% or more on a year-to-date basis, and Coinbase’s Stand With Crypto initiative has ga
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