Coinbase Faces FEC Complaint Over Alleged $25.5 Million Campaign Finance Violations

Aug 6, 2024, 01:23 AM

Public Citizen and crypto critic Molly White have filed a complaint with the Federal Election Commission (FEC) alleging that cryptocurrency exchange Coinbase violated campaign finance laws. The complaint claims that Coinbase donated $25.5 million to the pro-crypto Fairshake Super PAC while negotiating a federal contract, which is prohibited for contractors. Coinbase's Chief Legal Officer, Paul Grewal, has denied these allegations, asserting that Coinbase is not a contractor and therefore did not violate any laws. The complaint also involves the cryptocurrency $COIN.