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Brian Armstrong, CEO of Coinbase, announced that he will continue to support crypto-friendly policies following the U.S. elections. He emphasized that efforts to make U.S. laws favorable to cryptocurrency will persist even after the November elections.
Additional $25 Million Support to Fairshake PAC
Coinbase pledged a new donation of $25 million to Fairshake PAC to support crypto-friendly candidates. This initiative aims to boost cryptocurrency advocacy in Congress and make regulations more favorable to crypto in the U.S. by the 2026 midterm elections.
Increase in Political Spending
This move raises Coinbase’s total political spending to $75 million. Armstrong also mentioned their support for the Stand with Crypto (SWC) advocacy group, which aims to reach 4 million members by 2026.
Fairshake spokesperson Josh Vlasto stated that the crypto sector is committed to leading consumer-protective regulations by forming a sustainable coalition. He added that they are working to ensure the U.S. maintains its leadership in technology and employment.
New Partnership with Visa
Through a recent partnership with Visa, Coinbase now offers users the ability to instantly load money onto their bank cards. This new feature allows users to make transactions 24/7.
In its latest quarterly report, Coinbase reported revenues below expectations due to a decline in transaction volumes, which led to a 27% drop in fees. However, they managed to diversify their revenue streams through growth in staking, USDC transactions, and custody services.
Impact on Future Regulations
These decisive steps by Coinbase aim to politically empower the crypto community. The investments and partnerships seek to enhance the influence of the crypto sector within U.S. politics.
