Coinbase publicly hit back at Democratic Senator Chris Murphy's allegations on social platform X. Murphy said that Coinbase received political favors for donating to the Trump administration and related projects, which led the Securities Exchange Commission (SEC) to drop its lawsuit against Coinbase earlier this year.
Murphy wrote on X that Coinbase contributed $46 million to election campaigns, helped fund Trump's inauguration, and donated to the White House's new ballroom, all of which were linked to "Trump's corrupt system."
Senate Democrats are currently reviewing the $300 million White House ballroom project and demanding full disclosure of its funding sources, according to the Washington Post.
In a response, Faryar Shirzad, Coinbase's chief policy officer, called the allegations "ridiculous", noting that Fairshake, the crypto industry's main political action committee, is bipartisan and has backed several Democratic lawmakers, including Murphy's three new colleagues.
Mr. Shirzad added that it was customary for companies from Mr. Obama to Mr. Biden to Mr. Trump to donate to presidential inaugurations, while Coinbase's donations to ballrooms were channelled through the Trust for the National Mall, which works with companies from various industries.
Coinbase rejects US Senator Murphy's allegation of "favoring Trump", calling it "ridiculous"
2025-10-31 04:19:05
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