The crypto magnates who invested millions in the November US elections are now laughing all the way to the bank. As reported by CoinDesk, the outcomes have helped further increase the wealth of major actors in the crypto industry.
Chief executive officer of coinbase, Brian Armstrong, is among the most notable winners. Following the election, His company stock sales received an additional $129 million. On the other hand, Coinbase’s market capitalization surged by $21 billion. The value of Armstrong’s ownership in the company has increased by almost $2 billion. This takes his total position value to $6.4 billion.
Crypto’s Rising Influence in Politics
Before the election, Coinbase announced that it had donated $25 million to the super PAC known as Fairshake. Together with Armstrong’s personal funds, the couple provided $74 million in total. These amounts were close to the large investments provided by Ripple and Andreessen Horowitz (a16z).
He revealed his stock selling through a post on X and said that it was a diversification strategy. The plan enables him to participate in risky business while remaining the largest shareholder in most of the companies. According to a recent SEC filing, Armstrong still has 10% stakes in Coinbase and has 24 million shares in a trust.
The CEO of Ripple, Brad Garlinghouse, also enjoyed the increase in his net worth after the election. The native token of Ripple, XRP rose from $0.50 to $2.32. From data on CoinMarketCap, this means it has risen by 54.7% within just one month. The rise further placed XRP as the third most valuable digital asset within the cryptocurrency market.
Garlinghouse is a Ripple holder and owns more than 6 percent of the company together with a large number of XRP tokens. XRP holdings appreciated threefold owing to the price hike that was initiated by the announcement of a new election. In an interview with CoinDesk, Garlinghouse pointed to the overall market rally.
Crypto Donations Fuel Industry Gains
Ripple donated $73 million to the election process, slightly less than a16z’s $70 million given. Some funds have apparently been earmarked for the 2026 election cycle.
Another big winner is Andreessen Horowitz, a firm founded by Mark Andreessen and Ben Horowitz. The firm’s investment in different crypto companies has proved to do better than the money the firm committed during the political campaigns. It is interested in a number of blockchain ventures and digital currencies.
The increase in the net worth of crypto chiefs is evidence of the increasing political clout of this industry. These are some of the contributions towards the formulation of favourable policies for the industry. The contribution of crypto companies and their executives to political campaigns is on the rise.
The strategy seems to be working to the advantage of the company. Garlinghouse, Armstrong and many more have become extremely rich after the recent election. These are not mere selfish acts but strategic efforts to entrench crypto in the economic system in general.
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This is well depicted in Armstrong’s diversification strategy. However, when selling his shares in the company, he still has a large stake in Coinbase. Both of these strategies guarantee his continued prominence in the future of the company.
The position of Ripple has also been strengthened. Ripple has benefited from the upward trend of its digital currency; XRP and its valuation have risen, and the coin is now among the most popular in the market. Garlinghouse’s decision to own a large amount of XRP also reveals that more crypto executives are making strategic decisions.
The combination of crypto and politics is now increasing. The elections reveal how money can bring wealth and power in abundance. Now, crypto companies and their representatives are among the main influencers of the legal framework.
Conclusion
With the market value increasing over $1 trillion since the elections, the political awareness is clear. This is the most important stage of the crypto industry as it involves the coordination of the financial and political approaches. These steps evidence the increased normalization of the sector in the financial and political domains. Such wealth indicates that crypto leaders are in a new era where high stakes come with high rewards.
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FAQs
How did the November U.S. elections impact the wealth of crypto magnates?
The elections led to the growth of the market capitalization and personal portfolios of crypto industry heads.
What gains did Coinbase CEO Brian Armstrong achieve post-election?
Armstrong sold $129 million worth of stock, and his Coinbase holdings increased to $6.4 billion from nearly $2 billion.
How did Ripple CEO Brad Garlinghouse benefit from the elections?
Garlinghouse’s XRP holdings increased in value threefold as the token price rose by 54.7%, in the past 30 days, raising his net worth considerably.
What role did political donations play in the crypto sector’s post-election gains?
Crypto companies and their executives contributed millions to the political system to shape the policies and benefit from the political results.
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