As American voters continue to elect their government representatives for the next four years, Coinbase Global Inc. (NASDAQ: COIN) has reiterated its commitment to support pro-crypto leaders. Earlier today, Brian Armstrong, Coinbase co-founder and CEO, announced that the company has committed another $25 million for the Fairshake PAC, which has so far raised over $200 million for the course of supporting pro-crypto leaders.
According to the announcement, the latest funds will be crucial to securing more pro-crypto leaders in the 2026 midterm elections. In addition, Coinbase announced that it will support the Stand With Crypto initiative, which is meant to enhance the grassroots advocacy hub to empower crypto users. So far, the Stand With Crypto initiative has reached over 1.8 million advocate sign-ups and Coinbase intends to help them reach 4 million by 2026.Â
Impact of the Fairshake PAC on Crypto MarketÂ
The cryptocurrency exchange has so far donated nearly $100 million to the Fairshake PAC, which has made a significant donation to the Donald Trump campaign team for supporting the crypto industry. Moreover, Trump has committed to ensuring that the United States leads in crypto adoption, through positive regulations.
For instance, Trump hinted that he will not impose any tax on Bitcoin holdings if he is elected as the next POTUS. As of this writing, Trump was leading Kamala Harris with a difference of over 20 percent on the Polymarket prediction platform.
Meanwhile, Coinbase could face potential legal action for its political contributions similar to the one facing tech billionaire Elon Musk in Philadelphia for offering $1 million to voters through his America PAC.
