Coinbase -Brian Armstrong Successful Bet

Election Day proved hugely successful for the crypto industry. Nobody was a bigger winner than Coinbase CEO Brian Armstrong.

Coinbase shares soared 31% on Wednesday, their best day on record, as investors celebrated the company’s victorious effort to get pro-crypto candidates into office. Fairshake, the Coinbase-backed PAC, says that of the 58 candidates it supported, 46 won, with the remaining contests 12 still undecided.

For Armstrong, politics has become a big part of the job as his company fights for a friendlier Washington and more amenable regulatory environment.

Securities and Exchange Commission Chair Gary Gensler sued Coinbase last year over claims that it sells unregistered securities. A judge has since ruled that the case should be heard by a jury. Coinbase has fought back vociferously, and has also said that it wants to work with regulators to come up with a proper set of laws governing the nascent industry.

Coinbase stayed out of the presidential contest and focused its finances exclusively on congressional races, in an effort to assemble a group of lawmakers with favorable views of the industry

His politcs paid off ----

Bitcoin has now reached out $82k and Coinbase price almost $310