Coinbase Commits Another $25 Million to Crypto Super PAC in Drive for Bipartisan Policy Reform
Coinbase has pledged an additional $25 million to Fairshake, a nonpartisan super PAC focused on supporting crypto interests in U.S. politics. This contribution follows a similar $25 million investment made in June, with the aim of boosting advocacy for the 52 million Americans involved with digital assets. The company intends to increase membership for its grassroots group, Stand with Crypto, aiming for four million members by the 2026 midterm elections. Fairshake, established in 2023, has become influential in shaping regulatory policies and is backed by major entities like Ripple and Andreessen Horowitz. The PAC aims to support candidates advocating for crypto innovation and clarity. These initiatives are crucial, especially as the crypto sector faces increasing regulation from the SEC under the Biden administration, which many in the industry consider excessive. The strategic engagement is also evident in political proposals like a Bitcoin reserve from former President Trump, highlighting the sector's growing importance in U.S. politics.
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