Coinbase intends to assist pro-crypto candidates with a significant $25 million donation to Fairshake super PAC.
Coinbase donated $25 million to the pro-crypto federal super political action committee Fairshake to bolster pro-crypto candidates in this year’s elections.
Coinbase's goal is to get regulatory clarity for crypto, the exchange said in a blog post on Monday. The alleged slow and bipartisan nature of U.S. politics has led Coinbase to conclude that the best way to get regulatory clarity is to “elect pro-crypto candidates on both sides of the aisle, and to vote anti-crypto candidates out of office.”
Coinbase pointed out that it will support the grassroots organization Standwithcrypto.org, which has already amassed nearly 1 million signatures and has listed out key races and candidates who support pro-crypto legislation. As a super PAC, Fairshake cannot donate funds directly to political candidates but can run ads for their benefit. In one notable example, Fairshake released an ad against California senate candidate Katie Porter.
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