Crypto Critic, Advocacy Group Amend Campaign Finance Complaint Against Coinbase
Crypto critic Molly White and Public Citizen researcher Rick Claypool filed an amended complaint against Coinbase on August 1 for allegedly breaking campaign finance laws amid pushback from the crypto exchange’s Chief Legal Office Paul Grewal.
According to the complaint, the crypto exchange donated over $25 million to Fairshake, a crypto-friendly super PAC established by key players in the digital asset industry, between March and May 2024. During that time, however, Coinbase purportedly negotiated a contract with the United States Marshals Service, which is designated as a federal agency.
According to White, the contract involved Coibase’s ability “to provide custody and trading services for the cryptocurrencies seized during law enforcement investigations.” The crypto exchange “ultimately won” that contract on July 1 of this year.
Last week, @Public_Citizen’s @RickClaypool and I filed a complaint with the Federal Election Commission based on my research into apparent campaign finance violations by the Coinbase cryptocurrency exchange.
Read the full complaint and my updated article. pic.twitter.com/F6fK5fvxXT
— Molly White (@molly0xFFF) August 5, 2024
“In making these contributions of approximately $25.5 million, Coinbase violated federal campaign finance laws that expressly prohibit federal contractors from making contributions to political committees while negotiating or performing federal contracts,” the complaint stated.
However, Coinbase Chief Legal Officer Paul Grewal fired back at White and Claypool’s filing, labeling it “misinformation” given that the crypto company “is not a federal contractor.”
“We remain committed to playing a trusted role for the U.S. Marshals Service’s cryptocurrency services requirement, which
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