Coinbase has formed a political action committee (PAC)

  • July 21, 2018
  • 1:05 am ET

San Francisco based cryptocurrency exchange Coinbase has formed a political action committee (PAC) which can pool campaign contributions and make donations to candidates seeking political office.

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San Francisco based cryptocurrency exchange Coinbase has formed a political action committee (PAC) which can pool campaign contributions and make donations to candidates seeking political office.

It seems likely they’ll use these funds to contribute to and otherwise support crypto-friendly candidates, ballot initiatives, and legislation in the United States.

Politico’s Colin Wilhelm took to Twitter to break the news:

The news was also validated by an FEC filing made public on July 20th, 2018:

According to the Report of Receipts and Disbursements in the filing, the PAC had not raised any funds as of June 30, 2018.

As reported by CNN, Coinbase directly contributed more than $78,000 to the campaign of Brian Forde in 2017, and also contributed to a PAC called BIT PAC in 2014.


Via CNN

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