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addressed recent comments made by Senator Chris Murphywhich raised concerns about the company’s financial support for a White House project and political groups linked to President Donald Trump.
In a post on XMurphy stated that Coinbase he was part of what he described as President Trump’s “corruption factory.”.
He pointed to the company’s donation to Fairshake, a political action committee (PAC) that supports cryptocurrency interests, and to its involvement in the financing of the upcoming 2025 inauguration.
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He also suggested that these actions were connected to an application case passed by the Securities and Exchange Commission (SEC) of the United States, which was abandoned.
Murphy in addition accused President Trump of asking Coinbase for a large donation to help pay for a new ballroom planned for the White House grounds. The ballroom was originally presented as a private project that would not affect the East Wing.
However, recent photos showed that the East Wing had been torn down, even though President Trump had promised that it would not be touched. The cost of the project has increased from $200 million to $350 million.
In response, Coinbase’s head of policy, Faryar Shirzad, said that the company was proud to contribute to the new ballroom through the Trust for the National Mall.
He emphasized that Coinbase is it is not involved in the management of the construction and should not be blamed for its progress.
Recently, Shirzad played down the idea that stablecoins pose a major risk to American banks. What did he say? Read the full story.
