Blast

Cardano

United

Read

<ul>
 <li>Coinbase contributed $25M to Fairshake PAC, part of the $160M raised this election cycle.</li>
 <li>Fairshake spent $10M targeting Democrats, notably against Rep. Katie Porter.</li>
 <li>Fairshake ranks among the top cash-rich super PACs in the U.S., spending $40 million this cycle.</li>
</ul>
<p>Coinbase, a leading cryptocurrency exchange, has announced a substantial contribution of $25 million to the super political action committee (PAC) Fairshake. Coinbase CEO Brian Armstrong disclosed in a blog post on June 3 that Fairshake and its affiliates raised $160 million in total funds for this election cycle. This figure aligns with recent contributions from Ripple and venture firm Andreessen Horowitz.&nbsp;</p>
<p>Fairshake operates within regulations that prohibit direct donations to political candidates. Instead, it utilizes its funds to support candidates who are favorable to its causes indirectly. Notably, Fairshake has allocated $10 million this election cycle to lobby against Democrats, demonstrating its commitment to fostering a legislative environment that supports cryptocurrency.<br></p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Crypto is non-partisan. Coinbase is non-partisan. It’s time to elect candidates who value crypto over partisan politics. <a href="https://twitter.com/hashtag/StandWithCrypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#StandWithCrypto</a> <br>Learn More→ <a href="https://t.co/ojeBKlrPbo" rel="noopener noreferrer nofollow">https://t.co/ojeBKlrPbo</a></p>— Coinbase <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6e1.png" alt="🛡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@coinbase) <a href="https://twitter.com/coinbase/status/1797689846435336594?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 3, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p><br><strong>Political Strategies and Expenditures</strong></p>
<p><br>Fairshake’s funds are allocated to various political strategies, including lobbying efforts and the production of attack ads. <a href="https://www.opensecrets.org/outside-spending/super_pacs" target="_blank" rel="noopener noreferrer nofollow">OpenSecrets</a>, a group that tracks political spending, indicates that Fairshake has spent $40 million in the current cycle, with a significant portion of $10 million targeting Democratic candidates.&nbsp;Earlier this year, Fairshake financed advertisements against California Representative Katie Porter, who was unsuccessful in her March primary race for the Senate.</p>
<p>Armstrong articulated a clear strategy in his blog post, noting that engaging with critics remains a priority. Still, financial support would be directed toward cryptocurrency advocates in the political arena. According to OpenSecrets, this donation positions Fairshake among the top cash-rich super PACs in the United States.</p>
<p>Coinbase’s strategy to achieve regulatory clarity for the crypto sector includes electing pro-crypto candidates and removing anti-crypto politicians. Armstrong highlighted that around 52 million Americans, or 20% of adults, have owned cryptocurrency. These individuals span various political ideologies and support pro-crypto candidates. Armstrong also mentioned that Coinbase plans to continue investing in policy efforts over the coming decade as crypto regulations take shape worldwide.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/ripples-25m-donation-boosts-fairshake-pacs-crypto-advocacy-in-2024/" rel="noopener noreferrer nofollow">Ripple’s $25M Donation Boosts Fairshake PAC’s Crypto Advocacy in 2024</a></li>
 <li><a href="https://cryptonewsland.com/coinbase-joins-forces-with-andreessen-horowitz-ripple-for-crypto-pac-funding/" rel="noopener noreferrer nofollow">Coinbase Joins Forces with Andreessen Horowitz, Ripple for Crypto PAC Funding</a></li>
 <li><a href="https://cryptonewsland.com/pro-bitcoin-candidate-ted-budd-wins-the-u-s-senate-race/" rel="noopener noreferrer nofollow">Pro-Bitcoin Candidate Ted Budd wins the U.S. Senate race</a></li>
 <li><a href="https://cryptonewsland.com/did-cardano-get-a-surprise-appearance-at-the-super-bowl/" rel="noopener noreferrer nofollow">Did Cardano Get a Surprise Appearance at the Super Bowl?</a></li>
 <li><a href="https://cryptonewsland.com/the-ultimate-blast-watchlist-5-projects-poised-for-explosive-growth/" rel="noopener noreferrer nofollow">The Ultimate Blast Watchlist: 5 Projects Poised for Explosive Growth</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/coinbase-donates-25m-to-super-pac-fairshake-for-crypto-advocacy/" rel="noopener noreferrer nofollow">Coinbase Donates $25M to Super PAC Fairshake for Crypto Advocacy</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Coinbase Donates $25M to Super PAC Fairshake for Crypto Advocacy

Crypto News Land

Other articles published on Jun 4, 2024

ORDI Price Triangle Break Hints 50% Upside Potential

Bitcoin Price Remains Stagnant in Narrow Trading Range

Bitcoin Reaches Key Liquidation Threshold

Chinese Crypto Trader Loses $1 Million From Binance After Chrome Plugin Exploit

Bitcoin Surges as Altcoins See Mixed Trends

Bitcoin Price Movements Impact Market Behavior

Join our free newsletter for daily crypto updates!