- The CEO, Armstrong took to a social media platform, X to comment that Coinbase is always loyal in the matter of advocacy for crypto legislation.
- The chief executive officer has also stated that the platform will back its associate advocacy group.
- The crypto exchange platform has taken an oath to add $25 million support to the pro-crypto super PAC, Fairshake.
The chief executive officer of Coinbase, a cryptocurrency exchange, Brian Armstrong has publicized that the platform will not slow down on its crypto advocacy post election results of the United States. The U.S. election results are speculated to be by the end of the next week.
The announcement done by the CEO focused on the point that they are responsible for keeping a good and suitable environment for crypto in the U.S. legislation followed by the November US election.
As a result, the crypto exchange platform has taken an oath to add $25 million support to the pro-crypto super PAC, Fairshake. This step will help in supporting the crypto-friendly people managing the 2026 midterm elections.
A $25 million donation
The CEO, Armstrong took to a social media platform, X to comment that Coinbase is always loyal in the matter of advocacy for crypto legislation. Regardless of in whose favor the result will be, Armstrong mentioned that the company will carry on its pro-crypto efforts.
He also threw light on the new $25 million undertaking to Fairshake PAC, a super PAC backing blockchain innovators. This commitment is done with a view of uplifting the crypto representation in Congress at the time of 2026 midterm elections as well as upgrading the crypto regulatory environment in the United States.
Fairshake PAC is popularly known for giving its support through virtual and broadcast platforms. It has so far used the contributions of the industry to support candidates who are in the favor of innovation and growth in the crypto industry.
A spokesperson of the super PAC has stated that, “We await with pleasure to carry on making a long-term sustainable crypto alliance that will be responsible for passing rules to safeguard the consumers and will also make sure that the U.S. carries on to lead the way in the matter of technological innovation, growth and job creation”
Onboarding crypto-friendly voters
The chief executive officer has also stated that the platform will back its associate advocacy group, Stand with Crypto (SWC), which is targeted to expand the membership and take it to 4 million by 2026.
Also, the mission of this group is to onboard more crypto-friendly voters and give them right and proper education over policy issues and deploy them in key swing states. In the current scenario, the registration of new voters has surpassed the 100,000 mark. It is astonishing to note that the registration is mostly done from the state where crypto rule is still a pressing issue.
The crypto industry has seen a significant surge in the adoption of digital assets in America, as about 1 of every 5 Americans owns some sort of virtual asset. With this kind of increasing momentum, Armstrong aims to stiffen the crypto vote as a chief component in the politics of the United States.
In the third quarter earnings report of Coinbase, the results didn’t meet the expectations because of lessened trading volumes, which resulted in a 27% decline in the transaction fees. The revenue was far low as expected by analysts.
Adding more to this, Coinbase has collaborated with Visa which has resulted in instantly depositing funds to their account who has a Visa debit card. The partnership is also aimed to give users 24/7 access to trading.
