Coinbase has formed a committee …

Coinbase Forms Political Action Committee

Cryptocurrency exchange Coinbase has formed a political action committee, writes CoinDesk.

According to the publication of the US Federal Election Commission, the exchange has formed a division "Coinbase, Inc. Political Action Committee" in June of this year, but as of June 30, she was not involved in raising or making donations. Such committees support political candidates, however, according to available documents, Coinbase has not yet been attached to any candidate..

PACs are formed primarily to raise funds on behalf of candidates running for government office, and usually represent a separate company or ideological group, explains the Center for Responsible Politics, which monitors the transparency of cash flows in politics..

Coinbase Chief Communications Officer Elliot Suthers Confirmed Exchange Launched PAC But Refused To Provide Details.

Coinbase has formed a committee ...

While Coinbase’s PAC is likely the first for the cryptocurrency industry, the exchange itself has already donated over $ 81,000 for political purposes, according to a CNN posting Friday. Coinbase donated $ 78,000 to Brian Ford, congressional candidate and former advisor to President Barack Obama’s Office of Science and Technology Policy.

Another $ 3,000 was donated to BIT PAC, the political action committee that sponsored Republicans Justin Amash and Josh Mandela..

Coinbase has formed a committee ...

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