New York, Tuesday, November 5, 2024 – Coinbase has pledged an additional $25 million to Fairshake, a super political action committee (PAC), to boost pro-crypto candidates ahead of the 2026 US midterm elections.
This latest commitment underscores Coinbase’s dedication to advancing cryptocurrency-friendly policy in Washington and follows previous donations to Fairshake during the current election cycle.
In a blog post on Wednesday, Coinbase announced its long-term strategy, stating that the stakes in Washington are ‘too high’ for the company to remain passive.
By supporting Fairshake, Coinbase aims to counter what it describes as “destructive efforts” by anti-crypto policymakers. The company believes that empowering the crypto voter is key to achieving meaningful legislative progress, especially with the growing prominence of pro-crypto voices in US politics.
Coinbase CEO Brian Armstrong emphasized the emerging influence of crypto advocates, calling the crypto voter ‘a force to be reckoned with.’
In a recent statement on social media platform X, Armstrong predicted that the upcoming election would yield the ‘most pro-crypto Congress ever.’
However, he added that Coinbase’s efforts to strengthen the crypto industry’s political influence would continue beyond this election cycle.
Since its founding, Fairshake has garnered substantial support from major players in the crypto space, including Ripple and venture capital firm a16z.
Although super PACs are restricted from directly contributing to candidates, Fairshake has run ad campaigns against anti-crypto figures, notably targeting California Senate candidate Katie Porter, who lost in the primaries.
Coinbase’s new $25 million commitment to Fairshake reflects the industry’s resolve to shape a regulatory environment favorable to crypto innovation and adoption. This contribution aligns with a broader trend of growing political activism from crypto companies.
