As American voters continue to elect their government representatives over the next four years, Coinbase Global, Inc. (NASDAQ:COIN) reiterates its commitment to supporting pro-crypto leaders. Earlier today, Coinbase co-founder and CEO Brian Armstrong announced that the company has raised more than $200 million to date to support crypto advocacy leaders. Announced an additional $25 million contribution to Sheikh PAC.
According to the announcement, the latest funding will be critical to securing more pro-crypto leaders in the 2026 midterm elections. Additionally, Coinbase announced that it will support the Stand With Crypto initiative, which aims to strengthen grassroots advocacy hubs that empower cryptocurrency users. So far, the Stand With Crypto initiative has reached more than 1.8 million registered supporters, and Coinbase intends to help it reach 4 million by 2026.
Fairshake PAC’s impact on the crypto market
Cryptocurrency exchanges have so far donated nearly $100 million to FairShake PAC, which has made large donations to Donald Trump’s campaign to support the crypto industry. Additionally, President Trump has promised to ensure that the United States leads the adoption of cryptocurrencies through aggressive regulation.
For example, Trump has hinted that if elected president-elect, he would not impose any taxes on Bitcoin holdings. As of this writing, the Polymarket prediction platform had Trump leading Kamala Harris by more than 20 percentage points.
Meanwhile, Coinbase is facing legal action over political donations, similar to when Philadelphia tech billionaire Elon Musk was sued for giving away $1 million to voters through an America PAC. may face.
https://coinpedia.org/news/coinbase-global-boosts-political-funding-an-extra-25m-to-fairshake-pac/