Coinbase Pours $25M More Into Fairshake as CEO Armstrong Says 'We’re Not Slowing Down'
“The crypto voter is already a force to be reckoned with, but it will continue to grow,” CEO Brian Armstrong said.
Updated Oct 30, 2024, 9:44 p.m. Published Oct 30, 2024, 9:41 p.m.
The 2024 general election hasn’t even wrapped, but Coinbase is already funding a crypto-politics war chest for 2026.
On Wednesday, the exchange pledged to give crypto super-PAC Fairshake $25 million in 2025 for the following year’s midterm elections.
“The crypto voter is already a force to be reckoned with, but it will continue to grow,” CEO Brian Armstrong said in a X post. The next Congress “will be the most pro-crypto” yet, he asserted, adding, “we’re not slowing down.”
We get the U.S. election results in 6 days, and no matter how you slice it, it will be the most pro-crypto congress ever.
— Brian Armstrong (@brian_armstrong) October 30, 2024
But we're not slowing down post-election.
Today I'm announcing that @coinbase has committed another $25M to support Fairshake PAC, which they will use…
Crypto-industry dollars continue to flood American politics: multiple PACs are spending big on candidates perceived to be favorable to crypto. Fairshake, one of the largest, is also spending against anti-crypto candidates, most notably Katie Porter, who lost her primary bid for a California senate seat.
The pledge brings Coinbase’s total commitments to Fairshake close to $100 million, making it the industry PAC’s single most important funder. Fairshake has raised over $200 million this election cycle.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
