Support VP Kamala Harris’ Presidential Campaign with Crypto Donations
The Future Forward USA PAC, backing Vice President Kamala Harris’ bid for the presidency, now allows contributions in cryptocurrency through Coinbase Commerce. Initially, there was confusion due to a statement made by a Coinbase executive, but this has since been clarified. The platform is not directly used by Harris for political donations, as originally suggested, but by the Future Forward PAC supporting her campaign.
Coinbase’s Clarification
During the Citigroup 2024 Global TMT Conference in New York, Coinbase’s CFO Alesia Haas seemed to imply that Harris herself was using Coinbase Commerce for campaign funds. However, it was later clarified that it was the Future Forward PAC associated with Harris and not Harris directly using the platform for crypto donations.
“She’s using Coinbase Commerce now to accept crypto for her campaign,” Haas mentioned during a conversation that was recorded and reviewed by Fortune.
A spokesperson from Coinbase confirmed that the Future Forward PAC is indeed using Coinbase Commerce for receiving crypto donations, not Harris herself.
The move by the Future Forward USA PAC to accept crypto donations hints at a changing attitude among Democrats towards digital assets. Historically, the Biden administration has faced criticism from the crypto industry for its regulatory approach, while Republicans like Donald Trump have actively courted support from crypto enthusiasts.
The Future Forward USA PAC, aligned with the Democrats, has been an influential organization in terms of channeling funds towards political causes, including advertising campaigns, provided there is no coordination with the candidate directly.
Expanding Political Influence of Cryptocurrency
Coinbase’s Haas recognized the increasing impact of cryptocurrencies on U.S. politics. The company has previously supported pro-crypto candidates through initiatives like Fairshake and believes in the potential of digital assets to influence elections positively.
“We are seeing those dollars have an impact on those elections,” Haas mentioned, referring to the success of crypto-friendly candidates supported by Fairshake in a majority of races.
There is optimism that Vice President Harris could have a significant role in shaping future crypto-related legislation. However, specific details of her potential legislative measures remain undisclosed.
Despite the involvement of the PAC, Coinbase CEO Brian Armstrong clarified that the company itself has not contributed directly to either presidential campaign.
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