In a recent episode of the podcast, host Jan Baran engages in a profound discussion with Faryar Shirzad, the Chief Policy Officer at Coinbase, exploring the intricate relationship between cryptocurrency, law, and politics. Faryar shares insights from his diverse career, which spans from the son of an Iranian diplomat to serving as a White House advisor and moving on to key roles at Goldman Sachs before stepping into the world of cryptocurrency.
During the conversation, Faryar demystifies complex technological concepts, particularly focusing on the implications of the recently passed Genius Act. This legislation establishes a framework for dollar-backed digital assets, commonly referred to as “stablecoins.” These digital dollars enable peer-to-peer transactions without the need for traditional banking intermediaries, aligning with the internet’s overarching promise to eliminate middlemen.
The dialogue shifts to the evolving political landscape influenced by cryptocurrency. Faryar reveals how Coinbase has cultivated one of the most extensive political operations in history, engaging 2.4 million advocates through initiatives like “Stand with Crypto.” He addresses strategic funding via Super PACs, aimed at countering what he describes as the prior administration’s misguided approach toward crypto users.
Notably, Faryar highlights the shifting dynamics within the crypto community, showcasing its potential as a bipartisan political influencer. While 60% of crypto advocates identify as Democrats, an intriguing 54% supported Trump in the 2024 election, suggesting that the crypto voter bloc could significantly impact future electoral outcomes. This evolution underscores the necessity for anyone keen on comprehending the intersections of finance, technology, and politics in contemporary America to tune in to this enlightening episode.
