- Coinbase’s CFO has revealed that Kamala Harris is using Coinbase’s Commerce platform for crypto donations through a supporting super PAC, Future Forward.
- However, Harris’s official fundraising site does not show crypto integration, and some groups are unaware of her accepting crypto donations.
- Similarly, Coinbase’s CLO, Paul Grewal, sees potential for pro-crypto policies from both Harris and Trump in the 2024 US presidential election.
Coinbase’s CFO, Alesia Haas, has revealed that the US Vice President and Democratic presidential candidate, Kamala Harris, is using Coinbase’s Commerce platform to receive crypto donations for her campaign.
Related: Crypto Voters Lean Towards Trump in the Upcoming Election, New Poll Reveals
According to a recording reported by Fortune, the revelation came during a conversation with Citigroup’s Director of Payments, Peter Christiansen, at Citi’s 2024 Global TMT Conference in New York. Shortly after, Fortune said a Coinbase spokesperson confirmed that Future Forward, a super PAC supporting Harris, has been onboarded with Coinbase Commerce.
Coinbase CEO Brian Armstrong, however, clarified that the company has not directly donated to any presidential campaign.
No Crypto Option Found
There are a few odd things to note about this situation. First, Harris’ official fundraising site does not currently show any crypto integration, and second, the advocacy group Crypto4Harris said they’re unaware of Harris accepting any crypto donations so far, highlighting a potential discrepancy in the campaign’s stance or its public disclosure.
Despite this, Coinbase seems determined to influence US policymakers to favour better crypto regulations in the US. The company —one of the largest public crypto firms and exchanges in the US— has pushed its lobbying efforts even further.
By 2023, Coinbase, along with Kraken and other crypto giants, had spent over US$20M (AU$29.7M) to deter Congress from several crypto laws, according to a report from DL News.
In June 2024, Coinbase donated US$25M (AU$37.2M) to FairShake, a crypto-focused super PAC.
Haas emphasised the strategic moment for the cryptocurrency industry, stating, “We’re in a unique precipice where we might get regulatory clarity in the US.” She expressed cautious optimism about Harris’s potential to drive crypto-friendly legislation despite her campaign’s lack of detailed plans.
Hopeful Signs for Crypto After Elections
In related news, Coinbase’s CLO, Paul Grewal, is optimistic about the stance of major party candidates on crypto in the upcoming 2024 US presidential election.
In an interview with Bloomberg on September 3, Grewal shared that Coinbase has engaged in discussions with representatives from both Democratic candidate Kamala Harris and Republican candidate Donald Trump to gauge their positions on the digital asset industry.
Grewal said Harris has reached out expressing interest and begun discussions about what a “new approach to crypto and digital assets could look like”. Grewal also highlighted Trump’s campaign embracement of pro-crypto policies but argued Harris has been “less vocal”.
Related: Details About Donald Trump’s Cryptocurrency Project Surface with Two Blockchains Involved
All in all, Grewal expects progress for the crypto industry, and regardless of the election outcome, a Congress more favourable to cryptocurrency could emerge.
We expect even as the presidential campaign roars ahead, we’re going to see progress in the fall on that legislation and hopefully an embrace by both parties of the structure and certainty it would provide
Paul Grewal, Coinbase
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