The crypto world is buzzing with excitement after Donald Trump announced J.D. Vance as his running mate, marking the first time a “bitcoiner” has a shot at the White House. Vance holds between $100,000 and $250,000 worth of BTC, according to his financial disclosure. Federal Election Commission records show that enthusiasm for Vance has spread throughout the crypto community, with Coinbase founders Brian Armstrong and Fred Ehrsam making significant contributions to Vance’s reelection campaign.
Armstrong and Ehrsam each gave the maximum personal contribution of $6,600 to Vance’s 2028 Senate reelection campaign, indicating their confidence in Vance as a potential VP who will support the crypto industry. This is not the first time the Coinbase cofounders have supported political candidates, as they have donated close to $300,000 to various candidates over the past two years. Vance’s war chest for the 2028 Senate race totals about $2.3 million, which he could potentially transfer into a 2024 campaign or use for a 2028 presidential run.
Armstrong, who is estimated to be worth $11.2 billion, has emphasized the importance of electing pro-crypto candidates and has contributed to a wide range of politicians from both parties who recognize the potential of crypto. Ehrsam, worth an estimated $3.2 billion, has consistently supported Republican candidates and has also contributed to a new crypto-focused political action committee called Fairshake. Both cofounders are actively involved in supporting candidates who will champion crypto-friendly policies.
Vance has been a vocal advocate for crypto in the Senate and has been working on draft legislation to relax SEC regulations on the crypto market. In a recent speech, he highlighted crypto as part of his populist crusade against the “ruling class,” stating that the government can cut off access to banking for those with unfavorable political views. This aligns with his belief that crypto provides a way for individuals to have control over their finances without government intervention.
The support from industry leaders like Armstrong and Ehrsam suggests that Vance has the potential to be a strong ally for the crypto community if he were to become Vice President. His willingness to challenge government regulations and support crypto-friendly policies has garnered significant support from those in the industry. Vance’s candidacy represents a unique opportunity for the crypto world to have a voice at the highest levels of government, potentially shaping the future of the industry in a positive way.
