After the post-election stock surge, Coinbase CEO Brian Armstrong's net worth has increased to more than $2 billion.

• On Wednesday, Coinbase shares experienced a 31% increase, marking their best performance ever, following the successful outcome of their candidates in the Election Day on Tuesday.
• In 2012, Brian Armstrong, CEO and co-founder of the crypto exchange, saw his holdings increase by over $2 billion, making him the biggest winner.
• "Opposing crypto is poor politics," Armstrong stated in a post on X after Ohio Republican Bernie Moreno won the Senate race over Democratic incumbent Sherrod Brown.

The crypto industry experienced great success on Election Day, with CEO Brian Armstrong leading the way as the biggest winner.

On Wednesday, Coinbase shares experienced a 31% increase, marking their best day ever, as investors rejoiced over the company's successful campaign to elect pro-crypto candidates. According to Fairshake, the PAC backed by Coinbase, out of the 58 candidates they supported, 46 won, with the remaining 12 races still undecided.

Coinbase's co-founder, Armstrong, who took the company public in 2021, remains its largest investor with over 10% ownership of its outstanding shares. As per the latest proxy filing, he owns 34.8 million Class A and Class B shares, which increased in value by about $2.1 billion on Wednesday to nearly $9 billion.

"Opposing crypto is poor politics," Armstrong stated on X after Bernie Moreno won the Ohio Senate race over Sherrod Brown.

In a lengthier follow-up post on Wednesday, Armstrong stated that the election was a significant victory for crypto, regardless of how it is viewed.

jumped over 9.5%, reaching a record of over $76,400.

A Coinbase spokesperson declined to comment further.

A PAC spent $40 million on ads to boost Moreno's name recognition in the race against Brown, the chairman of the Senate Banking Committee.

Coinbase's Stand With Crypto Alliance gave Brown a failing grade of "F," while Moreno received an excellent grade of "A."

According to NBC News, Moreno won 50.3% of votes cast, while Moreno received 46.3% of the votes, ensuring a majority for the Republicans in Senate. This victory was in addition to Donald Trump's win in the presidential contest.

"I am grateful to Ohioans for their support in this race," Moreno stated Tuesday night. "I am excited to work with the new Republican Senate majority to address the economy, border security, and restore American strength at home and abroad."

Despite being bankrolled by the crypto industry, Moreno's statement did not mention crypto.

Politics pays off

As his company strives for a more favorable political climate and regulatory environment, Armstrong has made politics an integral aspect of his job.

Gary Gensler, the Securities and Exchange Commission Chair, filed a lawsuit against Coinbase last year, alleging that it sells unregistered securities. A judge has since ruled that the case should be heard by a jury. Coinbase has vigorously defended itself and has also stated that it wants to collaborate with regulators to establish a legal framework for the burgeoning industry.

In September, CNBC reported that Armstrong's visits to the nation's capital were once or twice a year, but they have since become at least a quarterly occurrence, with the pace continuing to increase.

""Initially, many individuals were unfamiliar with crypto," Armstrong stated during his earlier journeys. Currently, the conversation has progressed to the point of discussing how to establish clear regulations and legislation in the United States."

In the 2024 election cycle, Coinbase was one of the top corporate donors, giving more than $75 million to Fairshake and its affiliate PACs, including a fresh pledge of $25 million to support the pro-crypto super PAC in the 2026 midterms. Additionally, Armstrong personally contributed more than $1.3 million to a mix of candidates up and down the ballot.

Coinbase prioritized its financial support for congressional races over the presidential contest, with the goal of building a team of lawmakers who would be supportive of the cryptocurrency industry.

Despite the 15% drop in Coinbase's stock last week following disappointing quarterly results, the company's post-election surge more than offset the decline.

Grewal, Coinbase's chief legal officer, attended multiple fundraisers for Trump before the election. After the election results were announced, Grewal expressed hope that the SEC would understand what had happened.

"Engage with crypto instead of suing it. Establish regulations promptly. No delay is necessary."

Grewal's comments were reposted by Armstrong, with the addition of the word "True."

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