Coinbase CEO Brian Armstrong pledged ongoing support for pro-crypto policies after the U.S. elections, with a $25 million donation to Fairshake PAC to bolster crypto-friendly candidates in Congress.
Following the U.S. elections, Brian Armstrong, CEO of Coinbase, declared that he would persist in advocating for crypto-friendly policies. He emphasized that efforts to establish U.S. laws favorable to cryptocurrency after the November elections will continue.
Additional $25 million in Support for Fairshake PAC
Coinbase has committed a new donation of $25 million to Fairshake PAC to provide support to pro-crypto candidates. This initiative aims to increase cryptocurrency advocacy in Congress and amend regulations in the United States to be more favorable to cryptocurrency by the 2026 midterm elections.
Rise in Political Spending
This action increases Coinbase’s aggregate political expenditures to $75 million. Armstrong also expressed their endorsement of the Stand with Crypto (SWC) advocacy group, which is committed to enlisting 4 million members by 2026.
The crypto sector is dedicated to establishing a sustainable coalition in order to lead consumer-protective regulations, according to Josh Vlasto, spokesperson for Fairshake. He further stated that they are striving to guarantee that the United States continues to be a leader in technology and employment.
New Collaboration with Visa
Coinbase now allows users to instantaneously load funds onto their bank cards due to a recent partnership with Visa. This new feature enables users to conduct transactions at any time of day or night.
Coinbase’s most recent quarterly report revealed that revenues fell short of expectations due to a decrease in transaction volumes, which resulted in a 27% decrease in associated fees. Nevertheless, they could diversify their revenue streams by expanding their staking, USDC transactions, and custody services.
