Overview
- Senator Chris Murphy alleged that Coinbase funneled $46 million to election efforts to help Trump allies, sent a large inaugural donation, contributed to a National Mall ballroom project, and then benefited when the SEC dropped its lawsuit.
- Chief Legal Officer Paul Grewal rejected the claims as misinformed, saying the company pursued clear rules and pointing to a federal court’s finding that the SEC’s denial of Coinbase’s rulemaking petition was arbitrary and capricious.
- Chief Policy Officer Faryar Shirzad said Coinbase’s political giving went to Fairshake, a non‑partisan PAC that supported candidates in both parties, and noted that corporate inaugural donations are a longstanding bipartisan practice.
- Shirzad said any contribution tied to the National Mall ballroom was routed through a nonprofit alongside many companies and that Coinbase had no role in construction.
- Senate Democrats are continuing an inquiry into funding for the $300 million ballroom project, while Murphy also recently criticized Binance.US over its listings of Trump‑related tokens.