Coinbase Invests $25M to Support Pro-Crypto Candidates in 2026 Midterms
Coinbase is boosting its political influence, committing $25 million to Fairshake, a crypto-focused PAC, to back pro-crypto candidates in the 2026 midterms. The goal is to shape a Congress favorable to cryptocurrency as U.S. lawmakers increasingly acknowledge the industry’s importance.
Coinbase, the largest U.S. cryptocurrency exchange, is strengthening its political stance, committing $25 million to Fairshake, a PAC supporting crypto-friendly candidates. This move follows a significant $140 million spent in 2024 elections, a sum backed by Coinbase, Ripple, and venture capital giant Andreessen Horowitz. The support comes as presidential candidate Donald Trump, a known crypto proponent, currently leads polls with 62% odds of winning.
Coinbase CEO Brian Armstrong recently expressed on X (formerly Twitter) that the U.S. Congress post-election will be the most pro-crypto ever. With plans to reach four million advocates through the Stand with Crypto initiative, Coinbase aims to drive legislation for the industry, focusing on protecting consumer rights and creating sensible laws.
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In the current election, crypto has become a focal point for candidates, with Trump showing pro-crypto support, while Vice President Kamala Harris advocates for clearer regulatory structures. Coinbase remains assertive in pushing for clear rules, especially after SEC’s 2022 crackdown.
In financial updates, Coinbase reported weaker-than-anticipated earnings due to a slowed crypto market, with earnings per share falling short at 28 cents against an expected 41. Despite this, transaction revenue saw a 98% year-over-year increase, reaching $572.5 million. Meanwhile, Bitcoin remains close to its all-time high, trading at $72,273, signaling renewed market interest.
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