Regulation
Coinbase Follows Ripple, a16z With $25,000,000 Donation to Crypto Advocacy Group Ahead of US Election: Report
Coinbase’s CEO is outlining his plan to move cryptocurrency regulation forward.
In a new company blog postBrian Armstrong, head of Coinbase, argues that clear regulation of cryptocurrencies should be an impartial issue.
“Coinbase is apolitical on issues outside of our mission. But when it comes to our mission to increase economic freedom by increasing cryptocurrency adoption, we are deeply committed to political efforts.”
According to Armstrong, the best thing the 52 million Americans who own cryptocurrencies can do to keep them is to vote for pro-crypto politicians and eliminate those who oppose them.
“This must be a bipartisan effort because passing the legislation will require support from both parties and because an equal percentage of Democrats (22%), Republicans (18%), and independents (22%) own cryptocurrencies.”
For their efforts, Armstrong says Coinbase is meeting with anti-crypto figures in an attempt to change their minds. The CEO says Coinbase does not give any special treatment to a political party or ideology.
In addition to supporting StandWithCrypto.org, Armstrong also announces that the cryptocurrency exchange has donated $25 million to Fairshake SuperPAC to help elect pro-crypto politicians.
“As of this writing, Coinbase has donated an additional $25 million in USDC, bringing the total raised by Fairshake and its affiliates to $160 million this election cycle, making it one of the largest SuperPACs.”
Payments company Ripple also donated $25 million to Fairshake, along with investment giant Anderseen Horowtiz (a16z).
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