Coinbase's New Feature Rates Politicians Based On How Pro-Crypto They Are

Crypto exchange Coinbase Global Inc COIN is rating political candidates on their outlook towards cryptocurrencies in a new feature on its mobile app.

What Happened: In a series of tweets on Wednesday, Coinbase CEO Brian Armstrong said the cryptocurrency exchange’s new integration would give its 103 million users a way to gauge the crypto sentiment of political leaders across the U.S. 

3/ Over time, we want to help pro-crypto candidates solicit donations from the crypto community (in crypto). We'll also expand to get more geographic coverage in global elections, and add data on various candidates running for office (not just current elected officials).

— Brian Armstrong (@brian_armstrong) September 14, 2022

The move to include a scorecard of how crypto-friendly U.S. legislators are was done with the goal of helping users better understand the crypto outlook of current leaders and potential candidates they would elect into positions of power.

“Over time, we want to help pro-crypto candidates solicit donations from the crypto community (in crypto),” said Armstrong.

“We'll also expand to get more geographic coverage in global elections, and add data on various candidates running for office (not just current elected officials).”

The Coinbase chief also said he hoped that the larger crypto community can rally together to “engage elected leaders and drive sensible policies.”

Last month, Coinbase launched a voter registration tool, with the hope that more people would get involved in electing officials who would make the right decisions with respect to blockchain and cryptocurrency regulation.

See Also: HOW DOES COINBASE MAKE MONEY?

Coinbase’s head of policy, Faryar Shirzad, said that the 2022 U.S. midterm elections would be “the most important in crypto history.”

Price Action: Coinbase shares traded 1.91% higher after-hours. The leading digital asset Bitcoin BTC/USD was trading at $20,264 at press time, up 0.45% over 24 hours. Ethereum ETH/USD was trading at $1,634, up 3.83% over the same period.