Neither his post nor the one from Coinbase mentioned the funding contributed to political campaigns in the last election cycle, where CNBC noted Coinbase was one of the top corporate donors. It gave over $75 million to Fairshake and other pro-crypto PACs and made a reported seven-figure donation to Trump’s inaugural committee, and Armstrong reportedly made more than $1.3 million in personal contributions.
As Bloomberg points out, Armstrong referred to this in a podcast interview last year, saying, “To actually be on everyone’s radar and have political power in DC and actually matter, a couple of things were required: One was that we needed to have money – specifically, the industry needed to be giving more to super PACs.” Similarly, Coinbase chief legal officer Paul Grewal tweeted last August that “Coinbase’s efforts to support a more free and fair economic future are succeeding,” in reference to a post saying crypto corporations had contributed nearly half of all corporate money spent on the 2024 election cycle.
