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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Oct 31, 2024 05:30 UTC
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Coinbase’s $25M Funding Pushes for Crypto-Friendly Leaders in 2026
Coinbase has pledged an additional $25 million to the Fairshake PAC to support pro-crypto candidates in the 2026 midterms.
Donald Trump, a potential 2024 presidential candidate, has expressed support for the crypto industry.
Coinbase, along with other crypto companies, may face regulatory scrutiny for their political contributions as with Elon Musk.
As Americans get ready to elect their next government representatives, Coinbase Global Inc. (NASDAQ: COIN) is stepping up its support for pro-crypto leaders. Today, Coinbase co-founder and CEO Brian Armstrong announced a new $25 million investment in the Fairshake PAC, bringing the group’s total fundraising to over $200 million in support of crypto-friendly candidates.
With the stakes higher than ever, Coinbase is signaling that it won’t just sit back as crypto regulation unfolds. How will the political push change the scenario? More on this below!
Aiming for a Pro-Crypto Future
Armstrong noted that this funding is focused on increasing pro-crypto representation in the 2026 midterm elections. Coinbase also reaffirmed its commitment to the Stand With Crypto initiative, a grassroots advocacy effort aimed at empowering crypto supporters across the U.S. With over 1.8 million advocates already signed up, Coinbase plans to help grow that number to 4 million by 2026.
Supporting Crypto-Friendly Campaigns
Coinbase has contributed nearly $100 million to the Fairshake PAC, which recently donated to Donald Trump’s campaign. Trump has voiced support for making the U.S. a leader in crypto adoption, promising positive regulations if re-elected. In one proposal, he suggested that he would remove taxes on Bitcoin holdings if he becomes President.
As of now, Trump leads Kamala Harris by more than 20 points on the Polymarket prediction platform, reflecting strong support within the pro-crypto community.
Coinbase’s political donations may draw legal scrutiny, especially following recent actions against Elon Musk. Musk faces a lawsuit in Philadelphia after allegedly offering $1 million to voters through his America PAC. Similar legal challenges could potentially arise for Coinbase’s campaign contributions, adding another layer of complexity to its pro-crypto advocacy.
With its ongoing support of pro-crypto leaders, Coinbase is placing itself at the center of the regulatory debate, working to ensure that crypto voices are represented in Washington and beyond.
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