Trump and Coinbase CEO Discuss Pro-Crypto Appointments and Potential Bakkt Acquisition

President-elect Donald Trump is having discussions about pro-crypto appointments with Brian Armstrong, the CEO of Coinbase. They’re also talking about Trump Media's potential purchase of Bakkt, a cryptocurrency exchange.

Since these talks began, Bakkt’s stock price has jumped significantly. Armstrong has even suggested that Trump should appoint “Crypto Mom” Hester Peirce as the new chair of the SEC.

Trump Media, which focuses on social media and technology, is exploring the possibility of acquiring Bakkt. A few years ago, Bakkt was a major player in the industry, but it has since been labeled a “marginal player.” Earlier this year, Bakkt considered options for sale or a breakup. However, with the current acquisition discussions, its stock has seen a notable increase.

While Trump is pursuing a range of pro-crypto reforms in U.S. institutions, these efforts are part of his political agenda. As a businessman, he hasn’t shown much interest in crypto investments since the disappointing presale of World Liberty Financial (WLFI). Acquiring Bakkt could give him a fresh stake in the crypto market.

At the same time, the world of crypto exchanges is influencing his policy outlook. Brian Armstrong is also meeting with Trump today to discuss personnel appointments for the upcoming administration.

As an industry insider, Armstrong has a strong interest in favorable policies for cryptocurrency. Throughout the election cycle, Coinbase spent millions supporting pro-crypto candidates at various levels. Since Trump’s victory, Armstrong has made several supportive comments, including praising Elon Musk’s D.O.G.E. and suggesting a new SEC chair after Gary Gensler.

He stated, “Hester Peirce would be the best choice. Smart, fair, professional. Can work with both sides.”

Hester Peirce, known as “Crypto Mom,” is one of the five sitting SEC Commissioners and one of two appointed by Trump. The speculation about Gensler’s potential ouster has sparked interest in who might replace him. If Armstrong hasn’t changed his mind about recommending Peirce, these discussions could greatly increase her chances.