Molly White
Molly White  ·  4 months ago
That donation, the largest of the three made by Coinbase to the Fairshake PAC, appears to have been well within the prohibited time period defined by the FEC.

Coinbase was at the time engaged in contract negotiations with the US Marshals service to provide custody and trading services for the cryptocurrencies seized during law enforcement investigations. They ultimately won the $32.5 million contract on July 1, 2024.

#CitationNeeded#Fairshake#Coinbase#USpolitics#USpol #crypto

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Molly White
Molly White  ·  4 months ago
If the contribution is indeed a violation of campaign finance law, it would be the largest such violation by a huge margin — with past violations maxing out with contributions of around $1 million.

There are, unfortunately, loopholes when it comes to campaign finance law, and companies have exploited them in the past by donating and contracting through subsidiaries. I don’t believe that’s what’s happening here, and Coinbase refused to provide any further information.

#Coinbase#USpol #crypto

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Molly White
Molly White  ·  4 months ago
When reached for comment, a Coinbase spokesperson declined to answer my questions and responded only with “Coinbase complies with all applicable laws, including campaign finance law.” A spokesperson for Fairshake did not respond to my requests for comment by publication time.

#CitationNeeded#Fairshake#Coinbase#USpolitics#USpol #crypto #cryptocurrency

A Coinbase spokesperson declined to answer questions about which entities were associated with the government contract or the political contribution, or to respond to broader inquiries about the apparent campaign finance violation, stating only that “Coinbase complies with all applicable laws, including campaign finance law.” A spokesperson for the Fairshake political action committee did not respond to requests for comment on the Coinbase entity that donated to the PAC, whether Fairshake had solicited the donation, or whether Fairshake had confirmed with Coinbase at the time of the donation their status as a federal contractor. The Fairshake website does note that federal contractors are prohibited from contributing to the super PAC.
A Coinbase spokesperson declined to answer questions about which entities were associated with the government contract or the political contribution, or to respond to broader inquiries about the apparent campaign finance violation, stating only that “Coinbase complies with all applicable laws, including campaign finance law.” A spokesperson for the Fairshake political action committee did not respond to requests for comment on the Coinbase entity that donated to the PAC, whether Fairshake had solicited the donation, or whether Fairshake had confirmed with Coinbase at the time of the donation their status as a federal contractor. The Fairshake website does note that federal contractors are prohibited from contributing to the super PAC.
A Coinbase spokesperson declined to answer questions about which entities were associated with the government contract or the political contribution, or to respond to broader inquiries about the apparent campaign finance violation, stating only that “Coinbase complies with all applicable laws, including campaign finance law.” A spokesperson for the Fairshake political action committee did not respond to requests for comment on the Coinbase entity that donated to the PAC, whether Fairshake had solicited the donation, or whether Fairshake had confirmed with Coinbase at the time of the donation their status as a federal contractor. The Fairshake website does note that federal contractors are prohibited from contributing to the super PAC.
Molly White
Molly White  ·  4 months ago
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#CitationNeeded#Fairshake#Coinbase#USpolitics#USpol #crypto #cryptocurrency