- Coinbase also supports Stand With Crypto, increasing the number of advocates to 4 million.
- In its shareholder letter, Coinbase said it is “ready to work with any administration,” regardless of who becomes the next POTUS.
Coinbase will donate an additional $25 million to cryptocurrency PAC Fairshake to support cryptocurrency candidates during the 2026 midterm elections.
In a blog post, the cryptocurrency exchange said it would “help Fairshake and its affiliates remain a force in the next election cycle by investing an additional $25 million in the effort.” Coinbase will also support Stand With Crypto to reach 4 million supporters ahead of the midterms.
Coinbase added that “the risks are too high” for them to sit on the sidelines.
“If we can thwart the destructive efforts of anti-crypto politicians in DC during the tumultuous presidential election, imagine the progress we can make ahead of the midterm elections.”
Coinbase CEO Brian Armstrong wrote in a post to
“The cryptocurrency electorate is already a notable force, but will only continue to grow. “We will continue to work to protect our customers’ rights and help pass reasonable legislation in key markets around the world.”
We could have US election results in six days, and no matter how you analyze it, it will be the most cryptocurrency-friendly Congress ever.
But we will not slow down after the election.
Today I announce it. @Coinbase Invested an additional $25 million to support Fairshake PAC.
— Brian Armstrong (@brian_armstrong) October 30, 2024
Coinbase said in its Q3 2024 shareholder letter that it is “ready to work with any administration” in the United States, regardless of whether Vice President Kamala Harris or former President Donald Trump becomes the next POTUS.
Cryptocurrency donations increase
Fairshake raised more than $202 million, still the largest fundraiser in a U.S. election cycle, according to Open Secrets, a research group that tracks U.S. political funding.
The cryptocurrency sector has played a significant role in the 2024 election race, with the industry contributing approximately $190 million in political donations so far.
Former President Donald Trump received a significant amount of cryptocurrency donations. Last June, the Winklevoss twins sent $2 million in Bitcoin to the U.S. candidate, and in the same month, Jesse Powell, co-founder of cryptocurrency exchange Kraken, donated $1 million in Ethereum to the Trump campaign. did it
Vice President Kamala Harris also received cryptocurrency donations. Earlier this month, it was reported that Ripple co-founder and chairman Chris Larsen donated an additional $10 million in XRP to Vice President Kamala Harris’ election efforts.