Coinbase CEO Brian Armstrong backs Fairshake PAC and aims to grow crypto voting base despite recent financial challenges.
Coinbase Supports Crypto-Friendly Politics
Coinbase CEO Brian Armstrong remains committed to crypto advocacy, undeterred by upcoming U.S. election outcomes. Announcing the company’s commitment to a $25 million donation, Armstrong supports Fairshake PAC’s pro-crypto mission to influence policy, especially looking toward the 2026 midterms.
Strengthening Crypto’s Political Influence
Armstrong revealed on X that Coinbase stands firm in advocating for favorable crypto regulation. This significant contribution to Fairshake PAC aims to increase crypto representation in Congress and foster a positive regulatory environment for digital assets in the U.S.
Fairshake PAC’s Strategic Vision
Fairshake PAC, known for its digital and broadcast advocacy, uses industry funds to support candidates open to crypto innovation. “We look forward to building a long-term sustainable crypto coalition,” said Josh Vlasto, Fairshake spokesman, aiming for responsible regulation and technological growth. Coinbase’s contribution adds to its $75 million political spend this cycle.
Boosting Voter Engagement with Stand with Crypto
Coinbase also backs Stand with Crypto (SWC), aiming to grow its membership to 4 million by 2026. SWC works to mobilize crypto-friendly voters, educating them on policy and engaging key swing states. Currently, over 100,000 new voters have joined, with SWC working to expand in areas where crypto regulation is hotly debated.
Crypto’s Expanding Political Force
With nearly 1 in 5 Americans owning digital assets, crypto voters continue to gain influence. Armstrong emphasized, “The crypto voter is already a force… but it will continue to grow.” This voting bloc seeks to strengthen crypto’s presence in U.S. politics, with Coinbase positioning itself as a key player.
Challenges and Resilience Amid Q3 Earnings Drop
Coinbase’s Q3 earnings showed a dip due to lower trading volumes, causing a 27% decrease in transaction fees. Revenue also fell short of forecasts, driven by market challenges. However, Coinbase diversified with increased staking, USDC transactions, and custody services to ensure a stable revenue base.
New Partnerships to Enhance Services
Coinbase recently partnered with Visa, allowing instant deposits through Visa debit cards, providing 24/7 trading access to users. This collaboration demonstrates Coinbase’s commitment to enhancing customer experience and expanding accessibility in the evolving digital finance landscape.
Building Crypto’s Long-Term Political and Economic Future
Despite financial hurdles, Coinbase continues to invest in both crypto advocacy and service growth. Armstrong’s commitment to pro-crypto efforts underscores the growing importance of digital assets in U.S. policy and beyond.
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