Kamala Harris turns to Coinbase for crypto campaign donations, CFO reveals News ▸ US ▸ Regulation
Kamala Harris turns to Coinbase for crypto campaign donations, CFO reveals
Coinbase CFO Alesia Haas confirms Harris embracing crypto donations, despite campaign silence on the issue.
2 min read
Updated: Sep. 4, 2024 at 9:50 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Coinbase CFO Alesia Haas revealed that Vice President Kamala Harris‘s campaign is using Coinbase Commerce to accept crypto donations, Fortune reported Sept. 4.
Haas made the revelation during a conversation with Citigroup‘s director of payments, Peter Christiansen, at the lender’s 2024 Global TMT Conference in New York.
According to Haas:
“[Kamala] is accepting crypto donations. She’s using Coinbase Commerce now to accept crypto for her own campaign.”
Notably, this development follows reports from August that Coinbase was in talks with the Harris campaign, which were confirmed by the firm’s Chief Policy Officer, Fariar Shyrzad.
However, despite both Coinbase executives’ claims, the Harris campaign has yet to respond to requests for comment, while her official fundraising site does not mention crypto or display the Coinbase integration.
Fairshake PAC impacting the US elections
Coinbase is among the donors of the Political Action Committee (PAC) Fairshake, directing $25 million to the PAC supporting pro-crypto US politicians. In June, the crypto firm made another $25 million donation to the PAC.
Haas addressed the donations during Citi’s event, mentioning “elevated policy spend” by Coinbase and citing a “unique precipice where we might get regulatory clarity in the US.”
As the Fairshake PAC won 32 out of 34 elections it was involved in, the Coinbase executive added:
“We are seeing those dollars have impact in those elections.”
Furthermore, Haas claimed that Harris has already drawn pieces of a more open framework she would like to use to drive crypto legislation and bring regulatory clarity to the US. She added that the firm is cautiously optimistic about her plans.
Despite donating to the Fairshake PAC, Coinbase CEO Brian Armstrong said in March this year that the company didn’t donate directly to any US presidential candidates.
The Democratic Party has generally been less supportive of crypto than Republicans under President Joe Biden’s administration. However, recent lobbying efforts could potentially shift this stance.
Tone change
Although the US stance towards the crypto industry has been strict under Biden’s administration, Harris’ campaign has been shifting its tone since early August.
The crypto-friendly push started with the launch of the “Crypto for Harris” campaign to counter former US President Donald Trump’s positive remarks regarding the blockchain industry.
Since then, top Democrats have voiced public support for the industry under the “Crypto for Harris” banner, along with several major industry players.
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Gino Matos
Gino Matos is a law school graduate and a seasoned journalist with six years of experience in the crypto industry. His expertise primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).
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Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Citigroup
Citigroup, Inc., commonly known as Citi, is a multinational financial services corporation headquartered in New York City.
Brian Armstrong, co-founder and CEO of Coinbase, stands at the forefront of the digital currency revolution.
Kamala Devi Harris (born October 20, 1964) is an American politician and attorney serving as the 49th Vice President of the United States.
A businessman, politician, and media personality, Donald John Trump served as the 45th president of the United States from 2017 to 2021.