Coinbase Donates To Super PAC, Aims To Influence Crypto Politics
Key Points:
- Coinbase donates an additional $25 million to Fairshake SuperPAC.
- Funds used for attack ads against anti-crypto candidates.
- Coinbase’s total donation to Fairshake hits $49 million.
According to Bloomberg, Coinbase donates to Super PAC with an extra $25M, which supports pro-crypto candidates, taking total donation to $49M.
Coinbase, the largest U.S. cryptocurrency exchange, has donated a further $25 million to the Fairshake SuperPAC.
The news was shared by the company’s chief executive officer, Brian Armstrong, in a blog post. The donation aims at contributing to an increase in contributions meant to support the election of candidates who are pro-digital assets.
Coinbase Donates to Super PAC To Support Pro-Crypto Candidates
Fairshake SuperPAC, along with its affiliates, managed to gather $160 million in this election cycle, according to Armstrong.
Andreessen Horowitz, a venture-capital firm whose co-founder Marc Andreessen serves on Coinbase’s board, made a matching donation last week. Crypto firm Ripple made the same donation of $25 million.
Fairshake used the funds to finance attack ads against Representative Katie Porter, a California Democrat known for being an anti-crypto. She had lost a Senate primary election in March. As of April month-end, Fairshake had already spent more than $40 million in this cycle, OpenSecrets reports.
Readmore: OKX User Loses $2M In Deepfake Cyber Attack
Growing Political Influence of Crypto Industry in Upcoming Elections
In his blog post, Armstrong said crypto voters will not be taken seriously until they send a clear message that opposing crypto is a political liability. He stated that the aim is to support pro-crypto candidates from both parties and vote out anti-crypto ones.
Coinbase’s latest donation, which brings the company’s total donation to Fairshake to $49 million, underlines the growing political influence of the crypto industry during the upcoming presidential and congressional elections.
The industry has often clashed with regulators such as the Securities and Exchange Commission and has been advocating for new legislation to help crypto business in the US.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Author
News
Coinbase Donates To Super PAC, Aims To Influence Crypto Politics
Key Points:
- Coinbase donates an additional $25 million to Fairshake SuperPAC.
- Funds used for attack ads against anti-crypto candidates.
- Coinbase’s total donation to Fairshake hits $49 million.
According to Bloomberg, Coinbase donates to Super PAC with an extra $25M, which supports pro-crypto candidates, taking total donation to $49M.
Coinbase, the largest U.S. cryptocurrency exchange, has donated a further $25 million to the Fairshake SuperPAC.
The news was shared by the company’s chief executive officer, Brian Armstrong, in a blog post. The donation aims at contributing to an increase in contributions meant to support the election of candidates who are pro-digital assets.
Coinbase Donates to Super PAC To Support Pro-Crypto Candidates
Fairshake SuperPAC, along with its affiliates, managed to gather $160 million in this election cycle, according to Armstrong.
Andreessen Horowitz, a venture-capital firm whose co-founder Marc Andreessen serves on Coinbase’s board, made a matching donation last week. Crypto firm Ripple made the same donation of $25 million.
Fairshake used the funds to finance attack ads against Representative Katie Porter, a California Democrat known for being an anti-crypto. She had lost a Senate primary election in March. As of April month-end, Fairshake had already spent more than $40 million in this cycle, OpenSecrets reports.
Readmore: OKX User Loses $2M In Deepfake Cyber Attack
Growing Political Influence of Crypto Industry in Upcoming Elections
In his blog post, Armstrong said crypto voters will not be taken seriously until they send a clear message that opposing crypto is a political liability. He stated that the aim is to support pro-crypto candidates from both parties and vote out anti-crypto ones.
Coinbase’s latest donation, which brings the company’s total donation to Fairshake to $49 million, underlines the growing political influence of the crypto industry during the upcoming presidential and congressional elections.
The industry has often clashed with regulators such as the Securities and Exchange Commission and has been advocating for new legislation to help crypto business in the US.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Related Posts
News
zkSync Token Airdrop Is Now Causing Controversy With Unequal Allocation to ZeroLend
News
Bitcoin Whale Wallets With Over 1,000 BTC Are Almost At A New All Time High
News
LayerZero Token Airdrop Rules Announced, Early Transactions Will Be Eewarded 3x
News
Ethereum ETF Issuers Are Still Waiting for SEC Comments on Their S-1 Filings This Week
News
Ripple’s XRP Sale Worth $78 Million Is Putting Great Pressure on Token Prices
Latest
Memereum Sells Over 23 Million Tokens in Presale As Solana (SOL) Struggles Below $150
Press Release
Memereum Sells Over 23 Million Tokens in Presale As Solana (SOL) Struggles Below $150
