Coinbase Boosts Lobbying Efforts With Massive Political Donations

Coinbase, a cryptocurrency exchange, has been making various political donations, including to organizations formed under Section 527, such as the Republican Governors Association (RGA) and the Democratic Governors Association (DGA).

ProPublica’s 527 Explorer shows that Coinbase donated $50,000 each to the RGA and the DGA in March. This was not the first donation to either organization, with the RGA receiving $500 in December and $50,450 days before FTX declared bankruptcy in November 2022.

Other donations to GOP-affiliated groups include $105,000 to the Republican Attorneys General Association (RAGA) last July and $75,000 in November 2022.

The Democratic Attorneys General Association (DAGA) received $50,000 in March, $25,000 last July, and $75,000 in November 2022.

The Democratic Legislative Campaign Committee (DLCC) received $25,000 in November 2022. These contributions are listed as coming from Coinbase itself, while similar searches for other exchanges like FTX will reveal donations coming from executives instead of the firms.

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