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Coinbase Pledges $25 Million to Nonpartisan Fairshake PAC, Total Spending Hits $75 Million

Oct 31, 2024, 02:00 AM

Coinbase Global Inc., the U.S. cryptocurrency exchange, announced an additional $25 million commitment to Fairshake, a nonpartisan political action committee (PAC) supporting pro-crypto candidates, for the 2026 midterm elections. This funding, to be provided in 2025, brings Coinbase's total political spending to $75 million, including $50 million already spent in the current election cycle. Brian Armstrong, CEO of Coinbase, emphasized the growing influence of the crypto voter in U.S. politics, stating that regardless of the upcoming election's outcome in six days, it will result in the most pro-crypto Congress ever. Armstrong noted that Coinbase is "playing the long game" to shape favorable crypto policy and keep U.S. markets primed for innovation in the digital asset industry.