I would like to share some thoughts on the election from the perspective of the mission of cryptocurrency and Coinbase to increase economic freedom (this dimension is highly politicized).
In any case, this election is a huge victory for cryptocurrency.
1. The victory of Bernie Moreno, who supports cryptocurrency, over Sherrod Brown was key to Trump's victory in Ohio. Sherrod is one of the most anti-cryptocurrency senators.
2. Cryptocurrency has the full support of the winning presidential candidate, Trump.
3. The federal government has completely denied the actions of Senators Warren and Gary Gensler, who have tried to illegally stifle the cryptocurrency industry for years. They should be held responsible for the Democratic Party's failure (Biden and Harris should also be held responsible).
4. The next Congress will be the most cryptocurrency-friendly Congress in history. StandWithCrypto voters turned out in droves to help elect cryptocurrency-supporting candidates in almost every district (257 cryptocurrency-supporting candidates were elected to the House).
5. Washington, D.C. has received a clear message that opposing cryptocurrency is a good way to end one's career, as this goes against the will of voters who are dissatisfied with the current financial system and want change.
Of course, there are many other factors in this election besides cryptocurrency. Musk may have played the biggest role (his acquisition of Twitter/X marks a turning point). There are many other factors that I won't go into here.
But I believe the most important message we (the American people) have conveyed to the government in this election is that we will not build an ever-larger and more powerful government, we will not over-regulate, print money in large quantities, or buy votes through free welfare, while pushing up the deficit. America will take the path of economic freedom, which is the source of our strength, based on limited government, the rule of law, elite politics, fiscal discipline, and respecting the free market (rather than the government) as the source of economic growth, praising science, technology and builders as the driving force of civilizational progress, and so on.
This should not be limited to any one party. Both parties have excellent pro-business and tech-savvy advocates, and the cryptocurrency industry supports them as well. But this does not mean that the support rate should be 50/50, because in this election, their support rates were not equal. I received many angry calls from left-wing people who were dissatisfied with our industry's lack of support for the Democratic Party. What they refuse to acknowledge is that more Republicans voted for the FIT21 bill in the House (about 3 to 1), while the legal battles and attacks against cryptocurrency have basically all come from Democratic administrations. A truly non-partisan PAC that focuses only on candidates' positions on cryptocurrency and economic freedom, regardless of which party they belong to. If they get caught up in partisan thinking, they won't understand why it's not 50/50 or supporting the party they like.
In any case, I am proud that the cryptocurrency community has taken a truly principled, non-partisan approach, and I hope that after this election, we will no longer see such imbalance. Cryptocurrency should have the support of both sides, and any important new technology or industry that drives American prosperity should be the same. We cannot tolerate politicians trying to illegally destroy our industry or deprive our customers of their rights.
Finally, from a policy perspective, cryptocurrency will continue to exist, and we will continue to work until we see reasonable legislation to protect consumers and the industry from attacks. We will see this industry re-established in the United States. Coinbase and a16z have provided additional funding for Fairshake, which has already spent about $78 million in the 2026 midterm elections. StandWithCrypto currently has 1.9 million supporters and has set a growth target of reaching 4 million supporters by the 2026 midterm elections. They will also expand their efforts internationally, as the industry needs to see similar rules in the G20 or more broadly in the world. Only through global adoption can cryptocurrency revolutionize the global financial system and increase economic freedom.
I am very proud of the progress the cryptocurrency community has made. Now let's get some reasonable legislation passed in the U.S. and start building again!
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