Coinbase promises to provide $25 million in funding support for political activities in the US cryptocurrency industry

According to Bloomberg, cryptocurrency exchange Coinbase Global Inc. has added $25 million in funding support to Fairshake, the political action committee for the digital asset industry, which has become a significant force in US elections. Coinbase CEO Brian Armstrong posted on the X platform on Wednesday, saying, "Fairshake will use this funding for preparations before the 2026 midterm elections to support candidates who support cryptocurrency. The US election results will be announced in six days, making it the most cryptocurrency supportive Congress in history. Crypto voters are already an undeniable force and will continue to grow Fairshake, funded by digital asset industry giants such as Coinbase, Ripple Labs Inc., and Andreessen Horowitz, has been trying to push Republican and Democratic candidates to take cryptocurrency seriously. In the final weeks of the 2024 US election, Fairshake plans to spend over $40 million on top of the $140 million already invested in dozens of congressional districts across the country.