{"id":21915,"date":"2024-06-04T00:30:48","date_gmt":"2024-06-03T21:30:48","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21915"},"modified":"2024-06-03T22:48:43","modified_gmt":"2024-06-03T19:48:43","slug":"coinbase-boosts-fairshake-superpac-with-25m","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/coinbase-boosts-fairshake-superpac-with-25m\/","title":{"rendered":"Coinbase Boosts Fairshake SuperPAC with $25M"},"content":{"rendered":"

To support pro-crypto politicians in the elections this year, Coinbase<\/a> gave Fairshake<\/strong>, the pro-crypto federal super political action committee, $25 million.<\/p>\n

“We, together with others in the sector, have helped fund Fairshake<\/strong> SuperPAC to help elect pro-crypto candidates and defend the rights of our customers<\/em>,” the crypto exchange added.<\/p>\n

Based on a Monday blog post, Coinbase wants regulatory clarification for cryptocurrencies. Coinbase sees the ideal strategy as to “elect pro-crypto candidates on both sides of the aisle and vote anti-crypto candidates out of office,<\/em>” given what they consider the slow and bipartisan character of U.S. politics.<\/p>\n

Related: Bitcoin\u2019s Growing Influence in U.S. Elections<\/a><\/em><\/span><\/p>\n

The company underlined, however, that support for candidates will not help one party over another since crypto ownership is divided rather fairly along party lines.<\/p>\n

Coinbase noted that it will assist the grassroots movement Standwithcrypto.org, which already has around a million signatures and names important races and candidates in favor of pro-crypto legislation. Fairshake<\/strong>, being a superPAC, runs advertising for their own advantage rather than actively supporting political politicians. Fairshake<\/strong>, for one noteworthy instance, ran an advertisement criticizing California Senate candidate Katie Porter.<\/p>\n

The donation comes just one week following the $25 million donations made by Ripple and crypto venture firm a16z to the PAC, therefore augmenting the war chest of the company. Based on data from Open Secrets, Fairshake<\/strong> is among the best-funded superPACs in the nation, having lately pulled in about $160 million in donations.<\/p>\n

With former U.S. President Donald Trump pledging to defend self-custody and taking campaign donations in crypto for his re-election campaign, cryptocurrencies have become a major topic of debate in this year’s presidential contest. Concurrently, the Biden campaign has started consulting crypto sector participants for direction on the crypto community and policy choices.<\/p>\n","protected":false},"excerpt":{"rendered":"

To support pro-crypto politicians in the elections this year, Coinbase gave Fairshake, the pro-crypto federal super political action committee, $25 million. “We, together with others in the sector, have helped fund Fairshake SuperPAC to help elect pro-crypto candidates and defend the rights of our customers,” the crypto exchange added. Based on a Monday blog post,<\/p>\n","protected":false},"author":6,"featured_media":21916,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,2],"tags":[4669,151,6605],"class_list":["post-21915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchange-news","category-news","tag-2024-us-presidential-election","tag-coinbase","tag-fairshake"],"yoast_head":"\nCoinbase Boosts Fairshake SuperPAC with $25M - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Coinbase donates $25M to Fairshake SuperPAC to support pro-crypto politicians. 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