Crypto Industry Boosts 2024 Election Spending, Coinbase Commits $25M to Pro-Crypto PAC

Oct 30, 2024, 08:53 PM

Ripple CEO Brad Garlinghouse and Coinbase's Chief Legal Officer have highlighted the increased role of the crypto industry in US election spending for 2024. Digital-currency businesses are making donations comparable to those from Big Oil and unions, aiming for regulatory legitimacy regardless of the presidential election outcome, as explained by Gabriel Rubin. Coinbase has committed $25 million to support the pro-crypto super PAC Fairshake for the 2026 midterm elections, bringing its total political spending to $75 million. Coinbase CEO Brian Armstrong emphasized that the upcoming Congress will be the most pro-crypto ever, with significant influence from crypto voters.