Cryptocurrency exchange Coinbase has announced an additional $25 million commitment to FairShake, a nonpartisan super PAC dedicated to supporting crypto interests in US politics.
The publicly traded company also outlined plans to strengthen its grassroots advocacy group Stand with Crypto, aiming to grow its membership to 4 million people by the 2026 midterm elections.
Coinbase explained in a blog post Wednesday that this initiative is important to ensure representation for the 52 million Americans involved in digital assets.
Coinbase’s donation is similar to a similar 2,500 donation made in June as it seeks to influence U.S. politics in favor of an industry it views as under threat of hostile and excessive surveillance. This follows a $1 million donation.
Coinbase’s latest pledge brings Fairshake’s total donations to an estimated $186 million, according to data from the nonprofit organization OpenSecrets.
Founded in 2023, FairShake plays a key role in industry strategies that shape U.S. regulatory policy.
PAC is backed by major entities such as Coinbase itself, Ripple, and venture firm Andreessen Horowitz. According to FairShake’s website, FairShake’s mission is focused on supporting candidates who advocate for cryptocurrency innovation, regulatory clarity, and job creation in the United States.
FairShake is registered as a nonpartisan super PAC with the Federal Election Commission and aims to build influence across the political spectrum, including among presidential candidates in the upcoming election.
Coinbase’s defense comes at a pivotal time for the crypto sector, navigating polarizing policy pressures that see many in the industry unfairly targeted by those in Washington, D.C. There is.
The SEC’s regulatory stance has become especially tough under the Biden administration, as Fair Shake efforts intensify to build bipartisan support for blockchain- and crypto-friendly candidates.
On the presidential campaign front, former President Donald Trump proposed a Strategic Bitcoin Reserve that would hold up to 1 million BTC as part of the U.S.’s fiscal reserves, with the aim of ensuring transparency and fairness. He mentioned the establishment of a virtual currency advisory committee.
Vice President Kamala Harris was less specific, but expressed support for blockchain technology, focusing on a regulatory framework that protects minority investors.
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