#Coinbase Chips in Another $25M to Crypto Super PAC Fairshake ๐ธ
Coinbase, alongside Andreessen Horowitz and Ripple, has donated $25 million to the crypto super PAC Fairshake in the run-up to the U.S. elections.
In a June 3 blog post, Coinbase CEO Brian Armstrong announced that this donation brings Fairshakeโs total funds to $160 million this election cycle. This matches recent contributions from Ripple and Andreessen Horowitz.
Armstrong emphasized the importance of supporting pro-crypto candidates and voting out anti-crypto ones: โCrypto voters wonโt be taken seriously until we send a clear message that itโs bad politics to be anti-crypto.โ
Fairshake, now one of the top-funded super PACs, canโt donate directly to candidates but can spend unlimited funds to support them in other ways. So far, it has spent $10 million on lobbying, primarily against Democrats.
Earlier this year, Fairshake financed attack ads against California Representative Katie Porter, who lost her Senate primary race in March.
Coinbase's donation is strategically timed for the Nov. 5 U.S. elections, where the presidency, all 435 House seats, and 34 Senate seats are up for grabs.
As the crypto sectorโs influence grows, its support could tip control of Congress. Stay tuned as the crypto community ramps up its political engagement! ๐๐ณ๏ธ
