Coinbase CFO Reveals Kamala Harriss Super PAC Utilizes Crypto Donations Platform
In a notable shift in campaign finance, Coinbases Chief Financial Officer Alesia Haas revealed that Kamala Harris, the U.S. Vice President and Democratic candidate for President, is leveraging Coinbases Commerce platform for cryptocurrency donations.
The platform is a key part of Coinbases suite of services, designed to help businesses accept digital assets. Harris official super PAC, Future Forward, has been set up through this platform, according to Haas.
Haas disclosed this development during a conversation with Citigroups Peter Christiansen at Citis 2024 Global TMT Conference in New York, which Fortune subsequently reviewed. The information aligns with a prior report suggesting Coinbase was in talks with Harris campaign. As of now, the Harris campaign has not responded to inquiries about this matter.
Coinbase has confirmed through a spokesperson that Future Forward is indeed using Coinbase Commerce, reinforcing the validity of Haass statement. This move marks a significant departure from the traditionally cautious stance the Democratic Party has taken towards crypto under President Joe Bidens administration, possibly signaling a shift in policy.
Despite this confirmation, the Crypto4Harris advocacy group has expressed uncertainty about Harriss use of crypto donations, and the official fundraising site for Harris does not currently reflect this integration. Earlier this year, Future Forward reported raising $50 million to support Harris, but the campaigns response to this new development remains pending.
Coinbases Policy Efforts and Political Contributions
Haas also highlighted Coinbases broader strategy, noting that the company has been increasing its policy efforts amid what she describes as a rare chance for regulatory clarity in the U.S. In June, the exchange donated its first to Fairshake, a PAC that backs candidates advocating for cryptocurrency.
According to Haas, this was part of a series of incremental contributions aimed at bolstering general crypto policy efforts. With Future Forwards impressive performance in elections, winning 32 of 34 races it participated in, Haas expressed cautious optimism about Harriss potential influence on crypto legislation.
However, the exchange CEO Brian Armstrong has clarified that the company has not directly contributed to any presidential campaigns, focusing instead on broader policy support. As the situation evolves, it remains to be seen how Harriss engagement with cryptocurrency will impact her campaign and the wider political landscape.
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Read more: https://www.tronweekly.com/coinbase-cfo-reveals-kamala-harriss/
Text source: TronWeekly
