Coinbase Pledges $25 Million to Pro-Crypto Super-PAC
CryptoNewsTerminal Staff03 Jun, 2024
Coinbase Pledges $25 Million to Pro-Crypto Super-PAC
Coinbase, the popular cryptocurrency exchange, has pledged to donate $25 million to FairShake Action, a super-PAC supporting pro-crypto candidates in the upcoming 2022 U.S. midterm elections. This move underscores the growing political clout of the cryptocurrency industry as it seeks to influence legislation and regulation. Coinbase's hefty donation to FairShake Action, a group dedicated to promoting cryptocurrency-friendly policies, reinforces the industry's commitment to shaping the political landscape in its favor. The super-PAC has already received $2.5 million each from Andreessen Horowitz (a16z) and Ripple, further solidifying the industry's support. “Increasing the number of pro-crypto members in the House and Senate is critical,” Coinbase said in a statement. By supporting FairShake Action, Coinbase aims to increase the visibility and influence of pro-crypto candidates in the upcoming elections. The cryptocurrency industry is eager to gain more political support to advance its agenda and shape regulations that favor its growth and adoption.
