Charles Hoskinson Proposes Coinbase CEO Brian Armstrong as White House “Crypto-Czar”

The cryptocurrency industry is abuzz with speculation about the appointment of a potential “Crypto-Czar” in the White House.

As President-elect Donald Trump considers creating the role of an advisor to guide federal policy on blockchain and digital assets, the cryptocurrency industry is abuzz with speculation about the potential appointment of a “Crypto-Czar” in the White House.

Among the candidates being discussed is Coinbase CEO Brian Armstrong, who was proposed for the position by Charles Hoskinson, co-founder of Ethereum and founder of Cardano. Hoskinson's endorsement of Armstrong has sparked a debate within the crypto community.

In a post on X (formerly Twitter), Hoskinson highlighted the importance of appointing a neutral and knowledgeable individual to the role. He pointed to Armstrong's leadership at Coinbase, the largest cryptocurrency exchange in the US, as evidence of his ability to navigate regulatory challenges and foster innovation.

“With respect to the idea of a Crypto-Czar at the White House, I feel the role needs to be filled with someone who is neutral, works with all protocols, and has a deep understanding of why crypto is special,” Hoskinson wrote.

Hoskinson also criticized the current administration under President Joe Biden for its regulatory stance, calling them out for “unfair tactics” and “regulation through enforcement.” He argued that Armstrong could unite the crypto industry and lead legislative efforts to modernize the US regulatory framework for digital assets.

The Cardano executive further shared his plans to assist lawmakers directly, leveraging his experience in helping Wyoming pass 31 crypto-friendly laws. He announced Operation Baseline, an initiative by IOHK's policy division to identify inefficiencies and opportunities in the American cryptocurrency industry.

Hoskinson's endorsement of Armstrong has drawn mixed reactions. One X user, Maxime, voiced concerns about Armstrong's association with centralized entities.

“I don’t like the turn personally because Brian is bringing centralization in full swing in crypto. Whether it is technically through Base or via facilitating pension funds like BlackRock with custody,” Maxime argued.

This critique reflects broader apprehensions about Coinbase's growing influence and its perceived alignment with traditional financial (TradFi) institutions.

However, other voices in the crypto community see Armstrong as a pragmatic choice. Ed n’ Stuff, another commenter on X, supported the idea.

“It's important the crypto czar is not seen as partisan, so everyone buys in (not favoring any chain/ecosystem). A major CEX founder that is involved in a bit of everything makes sense,” the user quipped.

This sentiment highlights Armstrong's potential to appeal to diverse stakeholders in the crypto space. Besides Coinbase's Armstrong, another potential candidate may be Brian Brooks, the former Binance.US CEO. Brooks also has a history of serving as Coinbase CLO.

Brooks has extensive experience working with the overlap between cryptocurrency and TradFi, making him a strong contender. His tenure at the US Office of the Comptroller of the Currency (OCC) was marked by initiatives to integrate digital assets into the banking system. These, among other achievements, earned him respect across the industry.

Both Armstrong and Brooks bring distinct strengths to the table. Armstrong's experience as a pioneer in the crypto exchange space gives him a deep understanding of the market. Meanwhile, Brooks' regulatory expertise positions him as a bridge between policymakers and the crypto industry.

Nevertheless, Trump's consideration of a dedicated crypto advisor reflects the growing importance of digital assets in the global economy. Hoskinson believes this move presents a unique opportunity for the US to position itself as a global leader in blockchain innovation. He called on the industry to unite behind a shared vision.

“The president's goal is to make America the best place in the world to start and run a cryptocurrency and blockchain business,” Hoskinson said.

It remains to be seen whether more candidates will join the race for a Whitehouse Crypto-Czar. Notwithstanding, this debate reflects the challenges of balancing innovation with regulation. While Armstrong's selection would signal a commitment to industry growth, it also raises questions about the role of centralization in a space rooted in decentralization.

The eventual appointment is expected to help shape the trajectory of US crypto policy for years to come.