Coinbase’s big election bet is about to be tested
WASHINGTON — In the first few years after founding Coinbase, CEO Brian Armstrong shied away from Washington, D.C. But as his ambitions for his crypto exchange scaled, so too did his need to curry favor on Capitol Hill.
“About five or six years ago, we realized that crypto was getting big enough that we needed to go really engage actively in a policy effort, so I started coming out to D.C.,” Armstrong, who started Coinbase in 2012, told CNBC in September, following a day of meetings with political leaders.
Now, it’s practically Armstrong’s full-time job, and Coinbase’s money is all over the nation’s capital. The company was one of the top corporate donors this election cycle, giving more than $75 million to a group called Fairshake and its affiliate PACs, including a fresh pledge of $25 million to support the pro-crypto super PAC in the 2026 midterms. Armstrong personally contributed over $1.3 million to a mix of candidates up and down the ballot.
The tech industry’s biggest names have dotted Washington for years to try and push their agendas as their market caps have expanded, but for Coinbase, the matter is potentially existential.
SEC Chair Gary Gensler sued the firm last year over claims that it sells unregistered securities. A judge has since ruled that the case should be heard by a jury. Coinbase has fought back vociferously, and has also said that it wants to work with regulators to come up with a proper set of laws governing the nascent industry.
Meanwhile, Coinbase faces a growing list of competitors.
In the company’s latest quarterly earnings report last week, Coinbase missed on the top and bottom lines due to lower transaction revenues and a drop in subscription and services revenues. The shares plummeted 15%.
Data from CCData shows the exchange is losing spot market share to industry rivals like Crypto.com. And investors have many new options for accessing bitcoin and ethereum since the SEC greenlit spot funds this year. BlackRock’s ETF chief Samara Cohen told CNBC that 75% of its bitcoin buyers are crypto investors who are new to Wall Street.
Washington can’t save Coinbase from the competition, but the company is betting that, with favorable lawmakers in place, it can be the leader in a thriving industry rather than under the constant threat of lawsuits and Wells notices.
Armstrong said his D.C. visits normally took place once or twice a year. Then it got to be at least a quarterly occasion. And the pace has only increased.
“In the beginning, a lot of people didn’t know what crypto was,” Armstrong said of his earlier trips. Now, “the discussion has advanced, really, to, how do we pass clear rules, create legislation in the United States?”
An SEC sans Chair Gensler
Paul Grewal, Coinbase’s chief legal officer, attended a fundraiser in San Francisco in June that raised $12 million for former President Donald Trump. It was hosted by venture capitalist David Sacks, a former Trump critic who became an outspoken supporter when he became the Republican nominee.
Grewal later joined a fundraiser in Nashville in July for the former president.
Trump has never shown much of an aptitude for the nuances of crypto, but he’s welcomed the industry’s financial support. He was applauded in the summer, when he vowed to fire Gensler as head of the SEC if he wins.
Grewal told CNBC that he’s had “many conversations” behind closed doors with both the Trump camp as well as Democratic Vice President Kamala Harris’ campaign. Heading into Election Day on Tuesday, the candidates were in a virtual dead-heat.
“What I think we’re hearing from both campaigns is they get it,” Grewal said. “They understand that in swing state after swing state, there are enough voters who care about crypto that the candidate and their campaigns need to give voice to the concerns of those voters in supporting sensible rules for crypto, sensible legislation coming out of Congress, and that’s very encouraging.”
Grewal said that Trump “came earlier to this pro-crypto view,” but said that Harris recognizes the need for “an agenda focused on promoting sensible rules for crypto as much as any other technology.”
But Coinbase has stayed out of the presidential contest and focused its finances exclusively on Congressional races, as the company looks to help assemble a group of lawmakers with favorable views of the industry.
The Stand With Crypto Alliance, launched by Coinbase last year, has developed a grading system for House and Senate candidates across the country.
In the Ohio Senate race, for example, the organization gives Democratic incumbent Sen. Sherrod Brown, who chairs the banking committee, an “F” grade, versus an “A” grade for his Republican rival Bernie Moreno, a blockchain entrepreneur. Some $40 million of crypto money has been directed at defeating Brown, and one PAC has paid for five ads designed to boost awareness of Moreno. The race is very close and is crucial in determining which party will control the Senate.
Stand with Crypto, which has enrolled 1.4 million advocates across the country, is also working to mobilize digital asset owners living in swing states. This effort involved a cross-country bus tour through battlegrounds focused on getting these residents registered to vote.
“It’s really extraordinary, given how razor-thin the margin of victory was in the 2020 election, to see crypto not only be an issue, but potentially a determinative issue in terms of the presidential cycle,” Faryar Shirzad, Coinbase’s chief policy officer, said in an interview.
Shirzad said that last year, he and his team concluded that the only way to get politics out of crypto was “to build our own political operation.” He said the goal is to “neutralization the politicization of the crypto issue and talk about it on the merits.”
Coinbase is far from alone. Nearly half of all corporate money raised this election comes from crypto firms.
Fairshake, one of the top spending PACs this cycle, told CNBC it’s raised around $170 million this election and disbursed approximately $135 million.
Ripple Labs is another one of Fairshake’s top political donors.
The company, which has spent more than $100 million battling Gensler, has given around $50 million to Fairshake. Several executives have also contributed to a mix of Democratic and Republican candidates in races across the country.
Ripple’s head of U.S. public policy, Lauren Belive, told CNBC at a fintech conference in Las Vegas that the company was motivated by the SEC’s overreach.
“We really wanted to put people into office that could learn about this technology and understand this technology, because we need Congress to act and to create federal statutes and not have this enforcement regime,” said Belive. She added the regulator has issued over 100 enforcement actions against crypto-aligned companies.
The crypto voter
Stand with Crypto’s bus tour culminated in a rally held at The Black Cat in Washington on a Wednesday night in September.
The popular music venue has no windows and gives off an “Alice in Wonderland” vibe, with its mix of purple-painted walls and exposed brick, along with its black-and-white checkered floor.
As music blared and drinks flowed, free “Stand with Crypto” merch was being handed out to attendees. Surplus goodie bags were generously doled out to those looking to take extras back home.
Armstrong slipped out of his black SUV to speak to CNBC just outside the venue. He donned a suit and tie, a stark contrast to his fellow attendees. Armstrong said he was confident about the upcoming election.
“The crypto voter has become a major part of this election now,” Armstrong said. “I think the crypto voter is really real, and we’ll see what happens in November.”
In addition to Armstrong, Consensys CEO Joe Lubin, and Rep. Wiley Nickel (D-N.C.) spoke at the rally. Most remarks were inaudible over the roaring buzz of the crowd.
A hush fell over the audience when the headline act, The Chainsmokers, took the stage. The band started with its 2017 classic “Paris,” and the crowd chimed in at the chorus: “If we go down, then we go down together.”
WATCH: Bitcoin slumps to $67,000 level on eve of U.S. election: CNBC Crypto World
Back in 2018, when most electric motorcycle startups were showing off what looked like clunky science experiments or budget-minded e-scooters, a little company out of Stuttgart quietly unveiled one of the wildest-looking two-wheelers I’d ever seen. As one of the first motorcycle journalists to cover Sol Motors and their outlandish debut seven years ago, I’ve been keeping tabs on them ever since. And now I am excited to share that the Sol Pocket Rocket is finally preparing to launch in full production form. Yes, really.
The German company is now taking pre-orders for its uniquely tubular electric motorcycle that somehow looks like a mashup between a torpedo, an irrigation pipe, and a Star Wars prop. And yet, despite its cartoonish silhouette, it might just be one of the coolest ultra-urban e-motos headed for the streets.
The Sol Pocket Rocket comes in two versions: the standard model and the more powerful Pocket Rocket S. The latter packs an 8.5 kW (roughly 11.4 hp) electric motor that propels the bike to a top speed of 85 km/h (53 mph), while the standard version tops out at 45 km/h (28 mph), putting it in moped territory in many markets.
That makes it a perfect fit for cities, especially in Europe where light electric mopeds and motorcycles are gaining traction among young riders who want something fast, fun, and emissions-free, but without the size, weight, or cost of a traditional motorcycle. The bike’s 2.5 kWh battery may not sound like much, but the company says it offers up to 108 km (67 miles) of range for the lower speed version or 68 km (42 miles) of range for the higher speed version, which is generally more than enough for most urban commutes. The battery is also removable, allowing for convenient charging inside your apartment or office. That can be a neat trick for riders who charge at work, essentially doubling the maximum range they can commute.
And while we’re on the topic of design – yes, it’s unusual. The Pocket Rocket’s oversized aluminum top tube houses the battery and electronics, while a minimalist seat juts out from the back like a café racer’s rear hump. There’s no bodywork to speak of, giving it a raw and industrial aesthetic that’s either futuristic or ridiculous, depending on the lighting and your mood. But I’ve got to admit, I kind of love it.
The frame, wheels, and swingarm are all nicely machined, giving the whole thing a premium feel, or at least as premium as a potato gun on wheels can look. It’s like if Bauhaus made a Hot Wheels bike that could run on electrons.
Sol Motors is positioning the Pocket Rocket not just as a stylish e-motorcycle, but as a viable alternative to cars for city dwellers who want to skip traffic and parking headaches. It’s light, fast enough for urban streets, and small enough to squeeze into even the tiniest bike parking spot.
Pre-orders are now open and pricing starts at €5,990 for the standard model and €6,980 for the S version. That’s certainly not cheap, but not outrageous in today’s market for well-designed, European-made electric two-wheelers.
Electrek’s Take
I’ve covered a lot of oddball EVs over the years, but the Sol Pocket Rocket has a special place in my heart. There’s something honest about a company that doubles down on such a bold design and actually makes it work. Sure, it looks like a giant spool holder from the wrong angle, but it also looks like a lot of fun from the right angle! And the fact that it’s fast, fun, and actually headed to production means it offers three things that are far from a guarantee in today’s market.
It may have taken the scenic route and had a false start or two, but it looks like the company is finally ready to put that rubber on the road for good this time.
After nearly seven years of anticipation, I’m thrilled to see this bizarre beauty finally hitting the road. And hey, if anyone wants to send one over for a review, my driveway’s been waiting just as long.
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Environment
The 2026 Chevy Blazer EV lineup looks a bit different, but prices still start at under $45K
Chevy is introducing an updated lineup for the 2026 Blazer EV, including a few slight modifications. Despite the changes, prices will still start at under $45,000.
2026 Chevy Blazer EV prices by trim
GM’s Chevrolet is currently the fastest-growing EV brand in the US. Through May, Chevy sold over 37,000 EVs, surpassing Ford, which sold about 34,000.
Although the Equinox EV stole the spotlight, becoming the third top-selling EV behind Tesla’s Model Y and Model 3, Chevy’s electric Blazer has quiety been driving growth. In April, the Chevy Blazer EV was the sixth-best-selling EV.
With “the Equinnox and Blazer right in the heart of the market, they are really benefitting from that,” Tom Libby, an analyst at S&P Global Mobility, explained.
With the 2026 model years arriving with a few updates, Chevy looks to continue closing the gap with Tesla. Earlier this month, the 2026 Chevy Silverado EV configurator went live with base prices about $10,000 cheaper than the outgoing model. Now, it looks like the electric Blazer will be next.
New order guide data show the 2026 Chevy Blazer EV LT FWD will still start at $44,600, not including the destination fee. The 2026 model year will be available in FWD, AWD, and performance AWD configurations. However, Chevy is dropping the RWD option.
Although the base LT model is priced the same, the 2026 Chevy Blazer RS AWD is $500 more than last year’s model, starting at $50,400.
The 615 horsepower Blazer EV SS, the quickest SS Chevy vehicle to date, will still start at $60,600. Like the 2025MY, GM’s Super Cruise is standard on the SS and available for other trims. It costs $3,255 this year, the same as it did in 2025.
Other upgrades for the new model include a new Polar White Tricoat paint option and a standard dual-level charging cord, but it still lacks a NACS port.
A Chevy spokesperson confirmed to Car and Driver last month that “To simplify the product lineup while still offering the most popular options for consumers, RWD will not be available beginning with the 2026 model year.”
Up next will be the 2026 Chevy Equinox EV, or “America’s most affordable 315+ mile range EV,” as GM calls it. The base 2025 LT model starts at $34,995. Chevy keeping entry-level Blazer prices the same could be a good sign for the Equinox.
| 2026 Chevy Blazer EV trim | Starting MSRP* | Range (*2025MY EPA-estimated) |
| LT FWD | $44,600 | 312 miles |
| RS FWD | $50,400 | 312 miles |
| SS AWD | $60,600 | 303 miles |
With the federal EV tax credit set to expire at the end of September, Chevy is offering some serious savings opportunities. Starting at just $289 per month, the 2025 Equinox EV is hard to pass up. GM is also offering 0% APR across all 2025 Equinox EV, Blazer EV, and Silverado EV models.
Ready to test one out for yourself? You can use our links below to find deals on Chevy EV models at a dealer near you.
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Tesla has expanded the service area of its Robotaxi service in Austin, and it did so to draw a penis-shaped service map, seemingly for no other reason than to satisfy the juvenile humor of its CEO, but what it really achieved is to illustrate how unserious Tesla’s Robotaxi business is compared to other efforts.
Last month, Tesla launched its Robotaxi service in Austin, Texas, and as expected, the service was mostly for show and to give CEO Elon Musk a win after years of failed predictions regarding Tesla’s self-driving efforts.
The service was launched only for a small group of Tesla stock promoters on X, and it required a Tesla employee sitting in the front seat with a finger on a kill switch at all times.
In other words, it’s basically Tesla’s Supervised Full Self-Driving (FSD) in consumer vehicles, but with the supervisor moved from the driver’s seat to the front passenger seat.
Tesla also launched into a small area of South Austin, but last week, Musk said that the company would expand the service area by the weekend.
Late on Sunday, Tesla did update the service area, and it now looks like this:
There’s no practical reason to cover this specific section of Austin. The update appears to be solely to satisfy Musk’s famously juvenile sense of humor, which includes fascinations with the numbers “69” and “420”.
Tesla has also been offering rides in Robotaxi (invite-only) for $4.20 a ride.
In practice, what this joke does is illustrate just how unserious Tesla’s Robotaxi effort is in comparison to other autonomous ride-hailing programs.
Waymo already operates a larger area of Austin, and it does so without any supervisor inside the vehicle. It also operates in San Francisco, the Bay Area, Los Angeles, and Phoenix:
Tesla shareholders are holding on to the hope that Tesla will be able to scale faster, but Waymo has even launched in Atlanta since Tesla launched its limited service in Austin, and they are preparing to launch in Philadelphia and New York.
Meanwhile, Tesla still operates with supervisors inside its vehicles – a step that Waymo completed years ago.
Electrek’s Take
Look, I love a joke as much as the next guy, but when the whole service is a joke, maybe don’t draw a penis with the service map.
In China, I rode in Baidu’s Apollo Go, and it simply works without anyone in the car, and it is in operation in half a dozen cities.
It’s cool to see Tesla making progress here, but what’s less cool is the moving of the goalpost that leads to people forgetting that Tesla has promised unsupervised self-driving in all vehicles built since 2016.
Meanwhile, its progress has yet to outpace competition and CEO Elon Musk is out there claiming Tesla is the leader in self-driving with no close second.
It’s a level of delusion that you don’t want to see in someone deploying “self-driving” 5,000-lb machines moving at high speeds on public roads.
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