The cryptocurrency exchange platform is trying to influence upcoming political decisions in the United States.
A significant donation. Coinbase announced on its website on June 3 that it had given $25 million to Fairshake SuperPAC (an independent pro-crypto group) to try to influence American policy in favor of cryptocurrencies.
“Coinbase donated an additional $25 million in USDC, bringing the total funds raised by Fairshake and its affiliates to $160 million this election cycle, making it one of the largest SuperPACs,” Coinbase boss Brian Armstrong said in a statement posted on the company’s blog.
For his part, Fairshake says he supports candidates who are committed to making the United States “the home of innovators who are building the next generation of the internet.”
The boss of Coinbase explains that “the best way to obtain clear regulation in democratic countries is to elect pro-crypto candidates”. According to a study by Public Citizen, published on May 6, “Super PACs supported by the cryptocurrency sector had already raised more than $102 million”, thus becoming “the third largest Super PACs engaged in 2024 election.
According to a report from Triple A, entitled “The State of Global Cryptocurrency Ownership in 2024” and published on May 24, 15.5% of Americans own cryptocurrencies in 2024. However, another study from the Fed , made public on May 21, estimated instead that “7% of Americans (adults, Editor’s note) held or used cryptocurrencies in 2023”.
Source: https://www.bfmtv.com/crypto/regulation/coinbase-fait-un-don-de-25-millions-de-dollars-pour-tenter-d-influencer-la-politique-americaine_AV-202406060452.html
