Coinbase Crypto Exchange Creates Political Action Committee (PAC)
The cryptocurrency platform and exchange Coinbase has decided to build up a Political Action Committee known as PAC. The information has been revealed on Friday by the U.S. Federal Election Commission.
It is important to mention that the exchange created the Political Action Committee this year in June, but it stills need to make a donation or raise money. Moreover, the PAC is not currently linked to any party or candidate running for public office.
Those Political Action Committees are created in the United States so as to raise funds to help candidates during their political campaigns. Elliot Suthers, Coinbase communications director, informed that the crypto platform started a PAC, but they did not provide more information on the matter.
This one may be the first ever PAC that has been formed by a cryptocurrency company or enterprise. Additionally, the exchange has already donated over $81,000 for different political causes. or example, it donated $78,000 to Brian Forde, Congressional candidate who worked as advisor to president Barack Obama.
There are different candidates that defend and support the crypto ecosystem in different parts of the country.