Coinbase invests $75 million in pro-crypto candidates ahead of elections

Coinbase has become a major political donor this election cycle, contributing over $75 million to support pro-crypto candidates. CEO Brian Armstrong has increased his engagement in Washington, D.C., to advocate for favorable regulations amid ongoing legal challenges from the SEC. The company is focusing its efforts on Congressional races rather than the presidential election. Coinbase's "Stand With Crypto Alliance" has graded candidates based on their support for crypto, targeting key races like the Ohio Senate contest, where significant funds are aimed at defeating a Democratic incumbent. As the election approaches, Coinbase is mobilizing crypto voters through initiatives like a nationwide bus tour. The company aims to establish a political presence that can influence legislation and create a more favorable environment for the crypto industry.