Coinbase CEO, Brian Armstrong, has voiced his support for the ‘Stand with Crypto’ campaign by minting a free NFT image of a shield on the Zora marketplace. The campaign aims to demonstrate unity for the crypto community in seeking sensible crypto policy. Armstrong’s tweet endorsing the campaign came just hours after Coinbase announced that it was suing the Securities and Exchange Commission (SEC) for clarity on digital asset regulation.
Coinbase had requested the SEC to draft a specific rule covering digital assets, but since then, the regulator has declined to create separate crypto regulation. Instead, it has reopened custody and exchange rules to explicitly apply to digital assets and engaged in several enforcement actions against crypto firms, including an investigation into Coinbase.
The ‘Stand with Crypto’ NFT project, which is hosted on the Zora marketplace, features a blue shield symbolizing a collective stand to protect and promote the potential of crypto. The project’s page on Zora states that the blue shield not only shows support for the cause but also signals being part of a growing community that believes in the future of crypto.
It remains unclear whether the ‘Stand with Crypto’ campaign was created by Coinbase or is independent of the company. Coinbase has yet to respond to queries seeking clarification. While Armstrong has minted the NFT, he has not taken the recommended step of adding a shield emoji next to his Twitter name.