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Deythere > News > News > Coinbase’s $25 Million Boost for Crypto Advocacy Through 2026
News

Coinbase’s $25 Million Boost for Crypto Advocacy Through 2026

showcasing Coinbases 25 million commitment to crypto advocacy in the U.S. with symbols representing political support f
Alessia Moretti
Last updated: October 31, 2024 9:50 am
By
Alessia Moretti
Published October 31, 2024
2 Min Read
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Coinbase CEO Brian Armstrong recently affirmed the company’s commitment to supporting crypto-friendly policies in the U.S., pledging to continue efforts for a regulatory environment that fosters digital assets even after the November elections.

Contents
  • New $25 Million Support for Fairshake PAC
  • Rising Political Expenditures
  • New Partnership with Visa
  • Impact on Future Regulations

New $25 Million Support for Fairshake PAC

Coinbase has committed an additional $25 million to the Fairshake PAC to back candidates who support crypto-friendly policies. This funding, targeted through the 2026 midterm elections, aims to strengthen crypto advocacy in Congress and push for regulations that benefit the U.S. crypto sector.

Rising Political Expenditures

With this new pledge, Coinbase’s total political spending now stands at $75 million. Armstrong also expressed support for the Stand with Crypto (SWC) advocacy group, aiming for SWC to reach 4 million members by 2026.

Fairshake spokesperson Josh Vlasto emphasized that the crypto industry aims to build a sustainable coalition to champion consumer-focused regulations and keep the U.S. at the forefront of technology and employment.

Coinbases commitment to crypto advocacy with themes of political support and funding. Display symbols like campaign signs

New Partnership with Visa

Coinbase’s recent partnership with Visa now allows users instant funding to their debit cards, offering the flexibility to transact 24/7.

In its latest quarterly report, Coinbase reported lower-than-expected earnings due to reduced trading volume, which led to a 27% decrease in transaction fees. However, growth in staking, USDC transactions, and custodial services helped the company diversify its revenue streams.

With 1 in 5 Americans owning digital assets, Armstrong is working to engage crypto voters more directly in U.S. politics.

Impact on Future Regulations

Coinbase’s continued investments aim to position the crypto community for stronger political influence. Through these strategic investments and partnerships, Coinbase seeks to elevate crypto’s role in U.S. policy.

For more insights, stay tuned to Dey There.

Coinbase, crypto-friendly policies, Fairshake PAC, political spending, Stand with Crypto

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ByAlessia Moretti
Alessia Moretti is a blockchain and cryptocurrency analyst with 7 years of experience in the field. With a strong foundation in economics and a passion for technology, Alessia has been involved in a variety of international blockchain projects, focusing on the development of decentralized applications and financial products. Her work is characterized by a deep understanding of both the technical and economic aspects of blockchain technology. At DT NEWS, Alessia provides readers with in-depth analysis of global blockchain trends and market movements, helping them stay informed about the future of digital finance.
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