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.
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.
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.”
Renewables developer Exus Renewables North America is giving a $200 million upgrade to Somerset County, Pennsylvania’s 139 megawatt (MW) Twin Ridges Wind Farm – here’s why repowering projects like this are the future of the wind industry.
Wind energy repowering is all about breathing new life into older turbines or entire wind farms. By swapping out aging parts like turbines, blades, and nacelles for the latest tech, wind farms can see significant boosts in efficiency, power capacity, and overall lifespan. Other infrastructure and control systems can also get a second life, too.
Adding new components to existing infrastructure and grid connections mean it’s less expensive to extend the life of the wind farm with fewer resources. New components make the turbines less prone to breakdowns which means less maintenance, so there are fewer operational costs. Plus, a wind farm’s debt is usually paid off at around 10 years, and it qualifies for new tax credits and new financing at around that time. Existing wind farms often have power purchase agreements in place, and data companies are increasingly chasing power sources as demand grows.
Repowering Twin Ridges meant keeping all 68 towers and foundations while swapping out the nacelles and blades. Vestas, which has identified the repower market as a huge opportunity and engineered a solution that’s compatible with most turbines, supplied US-made nacelles, hubs, blades, and tower adaptors for the project. (Twin Ridges’ original supplier, RES, is no longer in business.)
Jim Spencer, CEO of Exus Renewables North America, said of Twin Ridges, “This upgrade will increase the power generation by 30%, which is a lot more power going into the grid. Repowering will allow it to use more of its allotted grid capacity since wind farms don’t operate at maximum capacity 100% of the time.”
Unlike a new wind farm, which comes online all at once, a repowered wind farm sees refurbished turbines turned on one at a time since the infrastructure is already in place. Out of its 68 upgraded turbines, Twin Ridges has brought 40 repowered turbines online, and a 41st turbine will soon follow.
Industry estimates suggest that up to 50 GW of US onshore wind capacity will be assessed for repowering in the next few years.
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Honda is set to introduce a full line of battery electric walk-behind consumer and zero turn electric riding lawnmowers to its US power equipment dealers for 2025.
As our own Jamie Dow put it, “It’s important to mention how horrendous gas lawn equipment is all the time, and how it’s often possible to get electric stuff for cheap because air quality districts know this is some of the lowest hanging fruit. The issue is that ‘small off-road engines‘ (SOREs) usually don’t include any sort of pollution controls, and are often dirtier two-stroke engines that create more power in a small package, but emit orders of magnitude more pollution in the form of unburned particulates from the incomplete combustion process they undergo when compared to four-stroke engines.”
With that in mind, then, we have to consider the recent announcement that Honda will be offering its battery electric HRX, HRN, and HRC walk-behind consumer lawn mowers and a zero-turn-radius (ZTR) commercial electric riding lawn mower at select Honda Power Equipment dealers nationwide in 2025.
“With the new line of Honda battery-powered lawn mowers, we will deliver the exceptional ownership experience that our customers have come to expect while providing lawn care options for a variety of users, conditions and applications,” says Mark Kohls, vice president of Honda Power Sports & Products at American Honda. “Reducing greenhouse gas emissions is only part of the challenge, as battery-powered power products must meet Honda standards for rugged performance, ease of use and comfortable operation to meet the high expectations of our residential and commercial customers.”
Honda ZTR electric riding mower
On the commercial front, Honda’s new ZTR mowers are powered by 5 separate, 48V brushless electric motors — 3 motors under the machine’s 60″ cutting deck (12″ wider than the Kubota‘s) that each power a rotating set of twin blades, and 2 drive wheel motors to maneuver the mower with precise control. The company says it’s engineered to, “stand up to the rigors of commercial landscaping, with power to mow at maximum efficiency while maintaining pristine cut quality.”
The new ZTR will be the first electrified power product produced at Honda North Carolina Manufacturing (NCM) facility in Swepsonville, and will be assembled using both “using “domestic and globally sourced parts.”
“Technology is aggressively shaping the future of the world, including the landscaping industry, and trends show that buyers are integrating battery-powered products into their fleets,” said Kohls. “Honda Sports & Products is providing the battery-powered Honda ZTR lawn mower to introduce flexibility into the fleet, help increase operating efficiency and comfort, address labor shortages and support the sustainability goals of commercial landscapers.”
We’ve got a ton more Black Friday sales for you in today’s Green Deals, with EcoFlow being the first of the major backup power brands to launch its savings event and offering up to $4,000 in savings on units like the new DELTA Pro 3 Portable Power Station that is at a new $2,789 low. There’s also ENGWE’s sale that has a bunch of savings options too, which has lowered the L20 2.0 e-bike to $699, among others. Xtracycle has taken up to $1,350 off its cargo e-bike bundles starting from $3,999, while Greenworks’ 80V Venture Commuter and Mountain e-bikes are at some of their lowest rates from $1,281. We even have a surprise last-minute entry that was too sweet to pass up as four Juiced e-bikes are getting up to $1,899 taken off their price tags in a massive clearance sale, dropping them to new low prices across the selection that start from $1,300. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s early Black Friday savings from Velotric, the limited Hiboy EX6 e-bike low, and more.
EcoFlow Black Friday sale drops 4,096Wh DELTA Pro 3 power station to new $2,789 low (Reg. $3,699)
EcoFlow has launched its early Black Friday sale through November 20 which is taking up to $4,000 off its lineup of power stations, bundle packages, and accessories. One of its newest releases, the DELTA Pro 3 Portable Power Station is now down at $2,789.07 shipped. Normally fetching $3,699, we’ve only seen a few varying discounts since releasing back in July, with it launching at $3,199, and subsequent discounts only bringing costs down to $3,399 at best. This sale though is giving folks the best rate to date as it falls $700 from its price tag and lands at a new all-time low price – but that’s not where the savings stop, as you’ll be getting an additional $210 (7%) off thanks to the bonus savings we discuss more below.
Now, as is often the case with EcoFlow’s big sales, there are some great additional savings that you can get right now. Aside from double points for members and a 30-day price-matching guarantee, you’ll also benefit from extra savings based on reaching certain order thresholds. For orders between $1,000 to $1,999 you’ll receive an additional 5% discount, while orders between $2,000 and $4,999 will receive 7% off discounts, and orders over $5,000 will receive a further 9% taken off the tag. Discounts will be automatically applied in your cart.
EcoFlow’s DELTA Pro 3 power station provides a 4,096Wh LiFePO4 battery capacity that you can expand further up to 48,000Wh, while also dishing output power up to 4,000W – surging to 6,000W and also expandable up to 12,000W when you have three power stations connected together. There’s a massive variety of recharging methods for this model, with seven solo-source options and 18 combination options. A standard wall outlet, for example, gets the battery back to 80% in just 50 minutes, with other options including solar (2,600W input max), EV, automotive cigarette outlets, dual PV charging, and so much more.
Through the EcoFlow app you’ll have full smart controls available via Wi-Fi and Bluetooth, while the 14 output ports offer plenty of ways to power and recharge your devices/appliances. This is one of three models (alongside the DELTA 3 Plus and RIVER 3 stations) that boasts the brand’s X-Core 3.0 tech, an integrated architecture system that is designed to offer far superior host safety, performance, and intelligence improvement. This upgrade also boosts its surge power rating for your more demanding appliances too, as well as increasing charging speeds, letting it run quieter and cooler than previous models, improving the battery management system and its overall lifespan, and more.
EcoFlow early Black Friday DELTA 3 Pro bundle deals:
EcoFlow’s early Black Friday DELTA power station deals:
EcoFlow’s best early Black Friday accessory deals:
You can view all the main featured deals from EcoFlow’s Black Friday sale on the landing page here, or if you instead want to browse the sale’s offerings in their entirety, check out everything discounted here.
ENGWE’s Class 3 entry-level L20 2.0 e-bike hits $699 in Black Friday sales + bonus savings
ENGWE’s Black Friday sale has kicked into gear through December 2, taking up to $600 off e-bikes and also offering discounted accessories, free gear, and multiple chances to get your order paid back in full (more info below). A notable price cut from previous sales is the entry-level L20 2.0 e-bike that is going for $699 shipped. It’s normally priced at $999 since it was released in March, with the lowest we saw it go being a fall to $659 at the end of summer. Since summer’s end, it’s kept at above $799, most recently during the previous Halloween sale, but that price is getting beaten out today with a total $300 markdown that lands it at the second-lowest price we have tracked – just $50 above the all-time low from summer. Learn more about the sale’s bonus savings and this e-bike below, or you can learn about it in our hands-on review.
For all the orders placed during this sale, ENGWE will have four different drawing periods (Nov 11, 18, 25, and Dec 2) with two winners in each – all of them receiving a full refund on their orders. Along with this, ENGWE is also giving away a free accessory mystery box with every order over $600 that gives you free gear worth up to $109.
One of the newer models coming out of ENGWE, the L20 2.0 e-bike makes for a solid entry-level commuter that will weigh far lighter on your wallet than many other brands. Its 750W geared hub motor provides a 28 MPH top speed when utilizing the pedal assistance, and 20 MPH speeds cruising on pure electric power. The 52V 676Wh battery delivers a range of up to 68 to 80 miles on a single charge (depending on conditions), while only using the throttle cuts that down to around 28 miles, which is still plenty to get you around.
It has a folding frame, making its off-riding storage and transport an easier task, plus is weighs just about 68 pounds making it easy to manage for most folks living in apartment buildings. And for the price, it also comes with some decent additional features, like the mechanical disc brakes on 180 mm rotors, a rear cargo rack, integrated head/tail/brake LED lights, front fork and post suspension, a SHIMANO 7-speed derailleur, puncture-resistant fat tires, and a color LED display.
Save $1,350 on Xtracycle’s Stoker off-road cargo e-bike with free gear at $3,999 in Black Friday sales
Xtracycle has begun its early Black Friday sales through November 18, offering up to $1,350 in savings on three different e-bike bundles. Among the three discounted models here, the prices start lowest for the brand’s Stoker Off-Road Cargo e-bike which is down at $3,999 shipped. This higher-end model normally sits at its $4,499 price tag most of the time, not seeing as many discounts as some of its higher-priced counterparts, though we did see a similar bundle offer back during the brand’s Labor Day sales. This month’s sale is giving us a bigger bundle than previously seen, as the included Everyday Rider Bundle also gives you an everyday bike pack, a 40L cargo bag that attaches to the bike’s frame, a padded cushion for passengers, a Hooptie rail system, and a Snackbar rail system – plus, you’ll also be getting free shipping and local assembly fees waived, giving you a total of $1,350 in savings ($260 more value than Labor Day).
The Xtracycle Stoker e-bike is an all-terrain cargo-hauling model that can traverse streets, trails, and more with ease. A Shimano STEPS EP-8 motor and a 630Wh battery reside within its chromoly steel frame, providing a 20 MPH top speed with its pedal assistance system (without any throttle) for up to 60 miles on a full charge. The terrain isn’t much of a concern thanks to the 24-inch NICA’GNAR Cargo Tires which come with fenders over each, and it has 4-piston hydraulic disc brakes for reliable stopping power the moment it is needed. The entire bike is rated for a total 400-pound payload, coming with an integrated rear cargo rack that only has its capabilities bolstered by the free gear. Among its other features, there’s the Sram NX11 X-HORIZON derailleur, integrated LED headlights and taillights, and an E-series cycling computer that gives you easy handlebar access to controlling your settings as you ride.
comes with $650 in free gear + free shipping/local assembly ($200 value)
Get up to $1,899 in massive savings on Juiced e-bikes at lowest prices ever in clearance sale starting from $1,300
Coming to us through Velowave Bikes, we’re seeing a large Black Friday Clearance sale taking up to $1,899 off a collection of Juiced e-bikes at some of the best rates we have tracked to date – including the brand’s newest JetCurrent Pro Foldable e-bike at $1,700 shipped, for example. It’s no secret that Juiced has been having financial troubles this year, with sales running dry over 2024 and folks seeing fewer and fewer differing offers coming from the brand while the stock has not been replenished after models sell out. Today though, thanks to Velowave’s warehouse, you can now score major savings on some of the popular models that bolstered Juiced’s reputation at the lowest prices we have ever seen, particularly its newest model. Head below for pricing.
Juiced e-bike clearance sale deals:
Greenworks’ 80V Venture 27.5-inch commuter e-bike hits new $1,520 low
Amazon is offering rare discounts on a pair of Greenworks’ Venture series e-bikes, with the Greenworks 80V Venture 27.5-inch Commuter e-bike for $1,519.99 shipped. Normally going for $1,900 since first releasing at the start of the year, we’ve only seen one previous discount on this model, which dropped costs to $1,615 back in February. It’s been keeping to its MSRP all this time since but is finally seeing its price come down thanks to the 20% markdown here that slashes $380 off the price tag and lands it at a new all-time low. It also beats out Greenworks’ direct site, where it’s still sitting at full price.
This 80V commuter e-bike is one of Greenworks’ new Venture series models, designed to expand the brand’s versatile battery ecosystem, which is standard across most of its tools. The 350W brushless rear hub motor (that peaks at 500W) is powered by the brand’s included 4.0Ah battery (and you’ll also get a rapid charger) that can also be switched out with other tools/batteries you may already own. Utilizing three different forms of pedal assistance as you ride, you’ll be able to cruise around at 20 MPH top speeds for up to 22 miles on a single 40-minute charge. It also features a front suspension fork, an adjustable suspension seat, a 7-speed Shimano shifter, 27.5-inch Kenda tires, an LED headlight, a rear cargo rack, as well as an LCD display paired with a simple control panel along the handlebars.
If you would prefer an electric mountain bike instead, Amazon is also offering the Greenworks 80V Venture 26-inch All-Terrain Fat Tire e-bike for $1,280.99 shipped, down from $2,100. This model sports a larger 500W brushless rear hub motor (peaking at 750W) to better support you through off-road travels, providing the same speed and mileage as the above model with its three pedal assist modes. You’re getting the same general features too, aside from the 26-inch by 4-inch all-terrain Kenda fat tires and minus the rear cargo rack.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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